William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $32.63, for a total transaction of $32,630.00. Following the completion of the sale, the senior vice president now owns 56,846 shares of the company’s stock, valued at $1,854,884.98. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

International Seaways Trading Down 1.2 %

Shares of NYSE:INSW traded down $0.41 during trading on Wednesday, hitting $32.91. 95,365 shares of the company’s stock were exchanged, compared to its average volume of 881,120. The firm has a 50-day moving average price of $36.10 and a two-hundred day moving average price of $40.44. International Seaways, Inc. has a 1-year low of $31.70 and a 1-year high of $65.94. The firm has a market cap of $1.62 billion, a P/E ratio of 3.18 and a beta of -0.17. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is currently 5.72%.

Institutional Trading of International Seaways

Large investors have recently bought and sold shares of the business. Glenorchy Capital Ltd increased its holdings in International Seaways by 0.6% during the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company’s stock worth $1,809,000 after purchasing an additional 322 shares in the last quarter. Bfsg LLC boosted its position in shares of International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock worth $99,000 after buying an additional 357 shares during the period. Farther Finance Advisors LLC raised its position in International Seaways by 3.6% in the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock valued at $375,000 after buying an additional 360 shares during the last quarter. Franklin Resources Inc. raised its position in International Seaways by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after buying an additional 379 shares during the last quarter. Finally, DMC Group LLC boosted its position in International Seaways by 9.9% during the 4th quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock worth $215,000 after acquiring an additional 540 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on INSW shares. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 target price 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

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.