International Seaways, Inc. (NYSE:INSW) SVP Sells $35,070.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the completion of the sale, the senior vice president now owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. This represents a 1.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Seaways Price Performance

Shares of NYSE:INSW opened at $35.40 on Friday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.74 billion, a PE ratio of 3.42 and a beta of -0.10. 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 price of $39.04 and a two-hundred day moving average price of $48.06.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The firm had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business earned $1.99 earnings per share. Equities analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 14.92%. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Jefferies Financial Group lowered their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Two research 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. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and an average price target of $60.67.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of International Seaways in the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its stake in International Seaways by 62.8% during the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 305 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in International Seaways during the third quarter valued at approximately $52,000. KBC Group NV grew its stake in 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 in the last quarter. Finally, Quarry LP grew its stake in International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares in 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.