Insider Selling: International Seaways, Inc. (NYSE:INSW) Director Sells 5,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) Director Douglas D. Wheat sold 5,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $61.81, for a total value of $309,050.00. Following the transaction, the director now directly owns 21,056 shares of the company’s stock, valued at $1,301,471.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

International Seaways Trading Up 1.2 %

Shares of International Seaways stock opened at $63.50 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $54.65 and a 200-day simple moving average of $51.01. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 5.93 and a beta of -0.05. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $63.80.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.54. The firm had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. International Seaways’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.30 earnings per share. On average, equities analysts forecast that International Seaways, Inc. will post 10.07 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be given a $1.75 dividend. The ex-dividend date is Wednesday, June 12th. This is a boost from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 dividend on an annualized basis and a dividend yield of 11.02%. International Seaways’s dividend payout ratio is 4.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INSW shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. Stifel Nicolaus raised their price target on International Seaways from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, International Seaways currently has an average rating of “Buy” and a consensus price target of $63.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after acquiring an additional 286,295 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of International Seaways by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after buying an additional 122,642 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock worth $73,396,000 after buying an additional 318,962 shares during the period. Hosking Partners LLP grew its holdings in shares of International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock worth $43,404,000 after buying an additional 161,643 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in International Seaways by 20.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after acquiring an additional 139,569 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

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.