Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells 1,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the sale, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

International Seaways Price Performance

Shares of INSW opened at $35.40 on Friday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 3.42 and a beta of -0.10. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94. The company has a 50 day moving average of $39.04 and a 200-day moving average of $48.06.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 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 the consensus estimate of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.99 EPS. As a group, equities research analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 14.92%. The ex-dividend date was Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is presently 4.64%.

Institutional Investors Weigh In On International Seaways

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. acquired a new stake in shares of International Seaways in the 3rd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its holdings in International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 305 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in International Seaways during the 3rd quarter valued at $52,000. KBC Group NV lifted its holdings in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the last quarter. Finally, Quarry LP lifted its holdings in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on INSW shares. Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and lowered their target price for the stock from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group lowered their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.67.

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.