International Seaways (NYSE:INSW) SVP Sells $187,985.00 in Stock

International Seaways Inc. (NYSE:INSW) SVP Derek Solon sold 3,500 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $53.71, for a total transaction of $187,985.00. Following the sale, the senior vice president owned 49,393 shares in the company, valued at $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

International Seaways Price Performance

Shares of NYSE:INSW opened at $53.89 on Friday. The firm has a 50 day moving average of $48.05 and a 200-day moving average of $42.61. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $54.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.66 billion, a PE ratio of 11.20 and a beta of -0.02.

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

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be paid a $0.12 dividend. The ex-dividend date 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 presently 10.93%.

Hedge Funds Weigh In On International Seaways

Large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of International Seaways by 1.7% during the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after purchasing an additional 206 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in International Seaways by 2.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after buying an additional 274 shares during the last quarter. Blue Trust Inc. boosted its position in International Seaways by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after buying an additional 289 shares during the period. Federated Hermes Inc. boosted its position in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares during the period. Finally, Amalgamated Bank grew its holdings in International Seaways by 3.4% during the 3rd quarter. Amalgamated Bank now owns 11,956 shares of the transportation company’s stock worth $551,000 after acquiring an additional 398 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on INSW shares. Pareto Securities downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Finally, BTIG Research reduced their price target on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.