Lois K. Zabrocky Sells 2,000 Shares of International Seaways Inc. (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total transaction of $77,240.00. Following the sale, the chief executive officer directly owned 192,771 shares of the company’s stock, valued at $7,444,816.02. The trade was a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

International Seaways Trading Up 2.4%

INSW stock opened at $39.29 on Friday. The firm has a fifty day moving average price of $38.32 and a 200 day moving average price of $36.46. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $58.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The firm has a market cap of $1.94 billion, a PE ratio of 6.07 and a beta of 0.05.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.21. The firm had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.92 EPS. Sell-side analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways’s dividend payout ratio is presently 7.42%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th.

Institutional Trading of International Seaways

A number of hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new position in International Seaways in the fourth quarter worth $29,000. GAMMA Investing LLC increased its holdings in shares of International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 596 shares in the last quarter. Quarry LP lifted its position in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares during the period. Blue Trust Inc. lifted its position in International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 738 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of International Seaways during the 1st quarter worth approximately $55,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.