International Seaways (NYSE:INSW) CAO James Small III Sells 20,000 Shares

International Seaways Inc. (NYSE:INSW) CAO James Small III sold 20,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $53.60, for a total value of $1,072,000.00. Following the completion of the transaction, the chief accounting officer owned 49,292 shares of the company’s stock, valued at $2,642,051.20. This trade represents a 28.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

International Seaways Price Performance

INSW stock opened at $53.61 on Tuesday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 11.14 and a beta of -0.02. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $54.62. The stock’s fifty day simple moving average is $48.17 and its 200-day simple moving average is $42.87.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The business had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. Equities research analysts expect that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.9%. International Seaways’s dividend payout ratio (DPR) is currently 10.93%.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently bought and sold shares of INSW. Federated Hermes Inc. increased its position in shares of International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in International Seaways in the 1st quarter valued at $55,000. EverSource Wealth Advisors LLC increased its holdings in International Seaways by 601.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 1,293 shares in the last quarter. PNC Financial Services Group Inc. raised its position in International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 1,542 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after purchasing an additional 289 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on INSW shares. Pareto Securities lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Finally, BTIG Research cut their target price on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus target price of $52.67.

About International Seaways

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.