International Seaways (NYSE:INSW) CEO Sells $135,580.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $67.79, for a total value of $135,580.00. Following the sale, the chief executive officer directly owned 208,745 shares in the company, valued at approximately $14,150,823.55. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

International Seaways Price Performance

INSW stock traded down $0.96 during midday trading on Tuesday, reaching $67.67. The company had a trading volume of 516,062 shares, compared to its average volume of 617,425. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $78.51. The stock has a 50 day moving average price of $63.05 and a 200-day moving average price of $53.84. 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 capitalization of $3.34 billion, a price-to-earnings ratio of 10.86 and a beta of -0.23.

International Seaways (NYSE:INSW) last released its earnings results 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 net margin of 36.67% and a return on equity of 13.92%. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Equities research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on INSW shares. BTIG Research raised their target price on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, January 20th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $68.00.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. Pacer Advisors Inc. grew its position in International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after acquiring an additional 192,848 shares during the last quarter. Marex Group plc bought a new position in International Seaways in the second quarter valued at about $4,276,000. Denali Advisors LLC boosted its stake in shares of International Seaways by 94.3% during the third quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock valued at $2,248,000 after purchasing an additional 23,674 shares in the last quarter. Creative Planning boosted its stake in shares of International Seaways by 270.9% during the second quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock valued at $1,130,000 after purchasing an additional 22,628 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of International Seaways by 7.5% during the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after purchasing an additional 139,868 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

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.