International Seaways (NYSE:INSW) Director Alexandra Kate Blankenship Sells 5,000 Shares

International Seaways Inc. (NYSE:INSW) Director Alexandra Kate Blankenship sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $74.88, for a total value of $374,400.00. Following the completion of the transaction, the director directly owned 10,213 shares of the company’s stock, valued at $764,749.44. This represents a 32.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alexandra Kate Blankenship also recently made the following trade(s):

• On Monday, March 2nd, Alexandra Kate Blankenship sold 4,000 shares of International Seaways stock. The shares were sold at an average price of $75.69, for a total transaction of $302,760.00.

International Seaways Stock Down 3.4%

NYSE:INSW opened at $73.20 on Wednesday. International Seaways Inc. has a one year low of $27.20 and a one year high of $78.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The company has a market cap of $3.62 billion, a PE ratio of 11.75 and a beta of -0.23. The firm’s 50 day simple moving average is $61.44 and its 200 day simple moving average is $53.19.

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

International Seaways Announces Dividend

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

Wall Street Analyst Weigh In

INSW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. BTIG Research lifted their price objective on International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $68.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fearnley Asset Management AS bought a new position in International Seaways in the fourth quarter worth approximately $6,258,000. Invesco Ltd. raised its position in shares of International Seaways by 27.9% during the fourth quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock worth $16,601,000 after purchasing an additional 74,635 shares during the period. Mackenzie Financial Corp raised its position in shares of International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after purchasing an additional 5,783 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of International Seaways by 416.1% in the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock worth $525,000 after purchasing an additional 8,713 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in International Seaways in the 4th quarter valued at $46,000. 67.29% of the stock is owned by institutional investors and hedge funds.

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.