Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells 3,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total transaction of $194,100.00. Following the completion of the sale, the senior vice president now directly owns 54,803 shares of the company’s stock, valued at approximately $3,545,754.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

International Seaways Stock Performance

Shares of International Seaways stock opened at $65.08 on Friday. The stock has a market cap of $3.21 billion, a PE ratio of 6.08 and a beta of -0.05. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $65.32. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $56.10 and a 200-day simple moving average of $51.64.

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

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 10.76%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date is Wednesday, June 12th. International Seaways’s payout ratio is currently 4.49%.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. Headlands Technologies LLC lifted its holdings in International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the last quarter. EntryPoint Capital LLC acquired a new position in International Seaways during the 1st quarter worth $108,000. Bfsg LLC bought a new stake in International Seaways during the fourth quarter valued at about $167,000. U S Global Investors Inc. grew its position in shares of International Seaways by 144.5% in the fourth quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Cim LLC bought a new position in shares of International Seaways in the fourth quarter worth about $192,000. Institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.