Debra Grillo Sells 389 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) Treasurer Debra Grillo sold 389 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $76.27, for a total transaction of $29,669.03. Following the completion of the sale, the treasurer directly owned 1,185 shares in the company, valued at $90,379.95. This trade represents a 24.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

International Seaways Price Performance

NYSE:INSW opened at $70.35 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. The company has a 50-day moving average of $61.88 and a 200-day moving average of $53.31. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $78.51. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 11.29 and a beta of -0.23.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. The business had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, equities research analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. International Seaways’s dividend payout ratio is presently 7.70%.

Hedge Funds Weigh In On International Seaways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of International Seaways by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,972,012 shares of the transportation company’s stock valued at $144,290,000 after buying an additional 68,248 shares in the last quarter. American Century Companies Inc. lifted its holdings in International Seaways by 7.5% during the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after acquiring an additional 139,868 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of International Seaways by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after acquiring an additional 4,250 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after acquiring an additional 216,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after purchasing an additional 12,188 shares during the period. 67.29% of the stock is owned by institutional investors.

International Seaways News Roundup

Here are the key news stories impacting International Seaways this week:

• Positive Sentiment: Earnings estimates are being revised up, which supports the company’s outlook and could underpin further upside if momentum continues. Earnings Estimates Moving Higher for INSW
• Positive Sentiment: Major dealers raised targets and ratings recently (Deutsche Bank boosted its price target to $80 and other firms upgraded/raised targets), providing analyst support for the stock. Deutsche Bank Increases INSW Price Target
• Positive Sentiment: Institutional buying and larger hedge?fund positions have increased over recent quarters, which can stabilize shares and provide longer?term demand. MarketBeat INSW Summary
• Neutral Sentiment: The company declared a small quarterly dividend ($0.12 per share, annualized $0.48), a limited yield that’s unlikely to materially move the stock but adds a modest cash return. Dividend & Company Details
• Negative Sentiment: Several insiders and directors sold meaningful stakes this week (including sales by Director Alexandra Blankenship and Director Randee E. Day), which often signals management profit?taking and can pressure the stock short term. Blankenship Form 4 Day Form 4
• Negative Sentiment: Treasurer Debra Grillo sold 389 shares (disclosed in a Form 4), a smaller but visible insider reduction that reinforces the near?term selling narrative. InsiderTrades: Grillo Sale

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Wall Street Zen upgraded International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. BTIG Research upped their target price on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Finally, Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $68.00.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.