Randee Day Sells 2,635 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) Director Randee Day sold 2,635 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $75.40, for a total value of $198,679.00. Following the sale, the director owned 22,525 shares in the company, valued at $1,698,385. The trade was a 10.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

International Seaways Trading Down 0.1%

Shares of INSW stock opened at $72.45 on Friday. The business has a 50-day moving average price of $60.41 and a two-hundred day moving average price of $52.61. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $78.51. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The firm has a market cap of $3.58 billion, a P/E ratio of 11.63 and a beta of -0.23.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million for the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company’s revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

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

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Corp increased its stake in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares during the period. Federated Hermes Inc. boosted its stake in shares of International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 378 shares during the period. Leonteq Securities AG bought a new position in shares of International Seaways in the fourth quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways in the fourth quarter worth approximately $46,000. Finally, Founders Capital Management grew its holdings in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after purchasing an additional 300 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INSW has been the topic of several research reports. Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, January 20th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. BTIG Research lifted their target price on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, International Seaways has a consensus rating of “Buy” and an average price target of $64.00.

About International Seaways

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.