Lois Zabrocky Sells 25,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the transaction, the chief executive officer owned 181,745 shares in the company, valued at $16,008,099.60. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Price Performance

Shares of International Seaways stock opened at $85.40 on Friday. The stock’s 50-day simple moving average is $76.11 and its 200-day simple moving average is $62.72. International Seaways Inc. has a 52 week low of $35.60 and a 52 week high of $92.66. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s revenue was up 77.5% on a year-over-year basis. As a group, analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s payout ratio is presently 4.37%.

Institutional Investors Weigh In On International Seaways

Large investors have recently made changes to their positions in the company. TrueMark Investments LLC bought a new stake in shares of International Seaways in the fourth quarter worth about $1,404,000. Assenagon Asset Management S.A. bought a new stake in International Seaways during the fourth quarter worth approximately $910,000. SG Americas Securities LLC increased its stake in International Seaways by 123.4% during the fourth quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after acquiring an additional 18,935 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in International Seaways during the fourth quarter worth approximately $709,000. Finally, CWA Asset Management Group LLC bought a new stake in International Seaways during the fourth quarter worth approximately $1,008,000. 67.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on INSW. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. BTIG Research lifted their target price on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.