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

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the transaction, the chief executive officer now owns 179,557 shares of the company’s stock, valued at approximately $6,223,445.62. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

International Seaways Stock Down 0.7 %

INSW stock opened at $34.31 on Wednesday. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The firm has a market cap of $1.69 billion, a PE ratio of 3.31 and a beta of -0.17. The firm has a 50 day simple moving average of $37.20 and a 200 day simple moving average of $41.54. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, March 14th. International Seaways’s dividend payout ratio is presently 5.72%.

Analyst Ratings Changes

INSW has been the subject of several recent analyst reports. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. Two 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Institutional Investors Weigh In On International Seaways

Hedge funds have recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways in the 3rd quarter valued at approximately $52,000. Larson Financial Group LLC purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $37,000. KBC Group NV lifted its position 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 acquiring an additional 428 shares in the last quarter. Finally, Quarry LP lifted its position in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 852 shares in the last quarter. Hedge funds and other 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.