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

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $53.82, for a total value of $107,640.00. Following the completion of the sale, the chief executive officer owned 184,421 shares of the company’s stock, valued at approximately $9,925,538.22. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

International Seaways Stock Down 1.7%

International Seaways stock traded down $0.92 during midday trading on Wednesday, hitting $53.76. 415,908 shares of the company were exchanged, compared to its average volume of 690,725. The company has a market cap of $2.66 billion, a PE ratio of 11.18 and a beta of -0.02. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.95. The company’s fifty day moving average price is $48.32 and its 200-day moving average price is $43.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

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

International Seaways Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its holdings in International Seaways by 1,452.6% in the first quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company’s stock worth $4,829,000 after acquiring an additional 136,076 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of International Seaways by 3.9% during the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 455 shares during the last quarter. CWM LLC raised its position in shares of International Seaways by 213.1% during the 1st quarter. CWM LLC now owns 5,344 shares of the transportation company’s stock worth $177,000 after purchasing an additional 3,637 shares during the period. Victory Capital Management Inc. raised its position in shares of International Seaways by 51.4% during the 1st quarter. Victory Capital Management Inc. now owns 294,357 shares of the transportation company’s stock worth $9,773,000 after purchasing an additional 99,931 shares during the period. Finally, Private Advisor Group LLC bought a new stake in shares of International Seaways in the 1st quarter worth approximately $273,000. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INSW. BTIG Research cut their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Pareto Securities cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and a consensus price target 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.