International Seaways, Inc. (NYSE:INSW) SVP Sells $33,890.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at approximately $1,892,824.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

International Seaways Price Performance

Shares of NYSE:INSW opened at $33.71 on Thursday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 3.26 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a 50 day simple moving average of $37.65 and a 200 day simple moving average of $42.72. International Seaways, Inc. has a one year low of $31.70 and a one year high of $65.94.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Wall Street Analyst Weigh In

INSW has been the subject of a number of recent analyst reports. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA bought a new position in International Seaways in the 4th quarter valued at approximately $29,000. Sunbelt Securities Inc. bought a new position in International Seaways in the 3rd quarter valued at approximately $52,000. Larson Financial Group LLC bought a new position in shares of International Seaways during the fourth quarter valued at $37,000. KBC Group NV raised its stake in shares of International Seaways by 65.2% during the third 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 during the last quarter. Finally, Quarry LP raised its stake in shares of International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 852 shares during the last quarter. 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.