Insider Selling: International Seaways (NYSE:INSW) CEO Sells $228,460.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $114.23, for a total value of $228,460.00. Following the completion of the sale, the chief executive officer owned 169,745 shares of the company’s stock, valued at $19,389,971.35. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Trading Up 6.4%

Shares of INSW stock opened at $111.44 on Thursday. International Seaways Inc. has a 1-year low of $44.84 and a 1-year high of $126.27. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 0.28 and a beta of -0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The stock has a 50 day simple moving average of $106.68 and a 200-day simple moving average of $91.93.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 EPS. On average, equities research analysts expect that International Seaways Inc. will post 17.47 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 18.1%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, September 10th. International Seaways’s dividend payout ratio (DPR) is 129.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INSW. Jefferies Financial Group boosted their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research increased their target price on International Seaways from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, September 18th. Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, B. Riley Financial raised their target price on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $109.80.

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of International Seaways by 11.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after buying an additional 118 shares during the last quarter. Allworth Financial LP lifted its stake in shares of International Seaways by 23.4% in the second quarter. Allworth Financial LP now owns 623 shares of the transportation company’s stock worth $48,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of International Seaways by 4.0% in the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after buying an additional 178 shares in the last quarter. Mather Group LLC. boosted its position in International Seaways by 100.0% during the third quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after acquiring an additional 200 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in International Seaways by 16.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company’s stock worth $151,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.