William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $43.05, for a total value of $43,050.00. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares of the company’s stock, valued at approximately $2,230,119.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

International Seaways Trading Up 0.1 %

Shares of INSW opened at $43.57 on Friday. The stock has a market capitalization of $2.16 billion, a PE ratio of 4.15 and a beta of -0.06. The company’s fifty day moving average is $49.75 and its 200 day moving average is $54.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. International Seaways, Inc. has a fifty-two week low of $42.08 and a fifty-two week high of $65.94.

International Seaways (NYSE:INSW) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. During the same quarter last year, the firm earned $3.12 earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. Sell-side analysts expect that International Seaways, Inc. will post 8.5 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.10%. International Seaways’s dividend payout ratio (DPR) is presently 4.57%.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares during the period. American Century Companies Inc. increased its position in International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after acquiring an additional 252,492 shares during the last quarter. Renaissance Technologies LLC increased its position in International Seaways by 5.3% during the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock valued at $52,184,000 after acquiring an additional 44,200 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of International Seaways by 4.1% in the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock valued at $50,482,000 after acquiring an additional 33,712 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of International Seaways in the 2nd quarter worth about $21,875,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of International Seaways in a report on Wednesday, August 7th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and reduced their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

International Seaways Company Profile

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.