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 company’s stock in a transaction on Monday, January 15th. The shares were sold at an average price of $41.28, for a total transaction of $82,560.00. Following the sale, the chief executive officer now directly owns 147,045 shares in the company, valued at $6,070,017.60. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

International Seaways Stock Down 5.3 %

Shares of INSW stock traded down $2.23 during trading hours on Thursday, reaching $39.39. The company had a trading volume of 1,219,181 shares, compared to its average volume of 1,041,548. The business has a fifty day simple moving average of $38.32 and a 200-day simple moving average of $46.89. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 3.81 and a beta of -0.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

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

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $1.32 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.41%. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INSW. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped 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, November 14th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.67.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of International Seaways by 4.3% during the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after acquiring an additional 38,871 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of International Seaways during the 3rd quarter worth $2,161,000. Charles Schwab Investment Management Inc. grew its position in International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock valued at $22,205,000 after buying an additional 32,825 shares during the period. Barclays PLC increased its holdings in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after buying an additional 174,695 shares during the last quarter. Finally, FMR LLC raised its position in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares during the period. Institutional investors own 67.29% of the company’s stock.

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.