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 firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $108.01, for a total value of $216,020.00. Following the completion of the transaction, the chief executive officer directly owned 171,745 shares in the company, valued at $18,550,177.45. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

International Seaways Stock Performance

Shares of NYSE INSW traded up $1.72 during midday trading on Wednesday, hitting $109.46. 809,726 shares of the company’s stock traded hands, compared to its average volume of 585,874. International Seaways Inc. has a 1 year low of $42.26 and a 1 year high of $111.94. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.27 and a beta of -0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The firm has a fifty day moving average of $95.41 and a 200 day moving average of $84.50.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business’s quarterly revenue was up 138.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. On average, analysts forecast that International Seaways Inc. will post 16.09 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $5.05 dividend. The ex-dividend date is Thursday, September 10th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 18.5%. International Seaways’s payout ratio is 129.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BTIG Research boosted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Jefferies Financial Group lifted their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Hedge Funds Weigh In On International Seaways

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in shares of International Seaways by 59.3% in the second quarter. Tidal Investments LLC now owns 51,034 shares of the transportation company’s stock worth $3,909,000 after purchasing an additional 18,996 shares during the period. Arlington Capital Management Inc. bought a new stake in shares of International Seaways during the 2nd quarter valued at $219,000. Engineers Gate Manager LP lifted its stake in shares of International Seaways by 43.8% during the 2nd quarter. Engineers Gate Manager LP now owns 13,375 shares of the transportation company’s stock valued at $1,024,000 after buying an additional 4,075 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of International Seaways during the 2nd quarter valued at $92,000. Finally, NewEdge Advisors LLC boosted its holdings in International Seaways by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 11,164 shares of the transportation company’s stock worth $855,000 after buying an additional 1,390 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.