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

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.83, for a total transaction of $83,660.00. Following the completion of the transaction, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

International Seaways Trading Up 1.6 %

Shares of NYSE:INSW traded up $0.65 on Monday, hitting $41.88. 422,576 shares of the company’s stock were exchanged, compared to its average volume of 579,781. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 4.05 and a beta of -0.06. International Seaways, Inc. has a 12 month low of $41.22 and a 12 month high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.87. The business’s 50 day simple moving average is $48.20 and its two-hundred day simple moving average is $53.85.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 EPS. Analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 12.61%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Analysts Set New Price Targets

INSW has been the topic of several recent research reports. Jefferies Financial Group decreased their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy 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 $60.67.

Institutional Trading of International Seaways

Hedge funds have recently bought and sold shares of the stock. EdgeRock Capital LLC purchased a new position in shares of International Seaways in the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC purchased a new position in International Seaways in the first quarter valued at about $27,000. Blue Trust Inc. bought a new position in International Seaways in the third quarter worth about $41,000. Sunbelt Securities Inc. bought a new stake in shares of International Seaways in the 3rd quarter valued at about $52,000. Finally, KBC Group NV boosted its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.