International Seaways Inc. (NYSE:INSW) to Issue Dividend Increase – $5.05 Per Share

International Seaways Inc. (NYSE:INSW) declared a quarterly dividend on Monday, August 10th. Investors of record on Thursday, September 10th will be given a dividend of 5.05 per share by the transportation company on Thursday, September 24th. This represents a c) annualized dividend and a yield of 22.5%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 4,108.3% increase from International Seaways’s previous quarterly dividend of $0.12.

International Seaways has increased its dividend payment by an average of 0.6%per year over the last three years. International Seaways has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Seaways to earn $9.10 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 5.3%.

International Seaways Price Performance

Shares of NYSE INSW opened at $89.90 on Tuesday. The stock’s 50-day moving average is $86.15 and its two-hundred day moving average is $77.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways has a 1-year low of $41.20 and a 1-year high of $98.23. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 8.19 and a beta of -0.13.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.43 by $0.48. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $403.24 million. During the same quarter last year, the business posted $1.02 EPS. The business’s quarterly revenue was up 138.9% compared to the same quarter last year. Analysts forecast that International Seaways will post 15.62 EPS for the current fiscal year.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Friday, May 15th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the transaction, the chief executive officer directly owned 179,745 shares of the company’s stock, valued at $15,139,921.35. The trade was a 1.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,830 shares of company stock worth $1,078,661. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of International Seaways during the second quarter worth approximately $505,153,000. Dimensional Fund Advisors LP increased its stake in International Seaways by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock valued at $220,436,000 after purchasing an additional 52,743 shares in the last quarter. Geode Capital Management LLC increased its position in shares of International Seaways by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock valued at $49,083,000 after buying an additional 4,250 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after acquiring an additional 12,188 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after purchasing an additional 380,931 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.