International Seaways (NYSE:INSW) Major Shareholder Finance Ltd Famatown Sells 38,917 Shares of Company Stock

International Seaways Inc. (NYSE:INSW) major shareholder Finance Ltd Famatown sold 38,917 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $122.06, for a total value of $4,750,209.02. Following the transaction, the insider directly owned 6,565,387 shares in the company, valued at approximately $801,371,137.22. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Finance Ltd Famatown also recently made the following trade(s):

• On Wednesday, October 14th, Finance Ltd Famatown sold 64,821 shares of International Seaways stock. The stock was sold at an average price of $125.05, for a total value of $8,105,866.05.
• On Friday, October 9th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $121.55, for a total value of $12,155,000.00.
• On Thursday, October 8th, Finance Ltd Famatown sold 200 shares of International Seaways stock. The shares were sold at an average price of $118.50, for a total value of $23,700.00.
• On Wednesday, October 7th, Finance Ltd Famatown sold 61,216 shares of International Seaways stock. The shares were sold at an average price of $117.08, for a total value of $7,167,169.28.
• On Tuesday, October 6th, Finance Ltd Famatown sold 66,738 shares of International Seaways stock. The shares were sold at an average price of $117.03, for a total value of $7,810,348.14.
• On Monday, October 5th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $114.97, for a total value of $11,497,000.00.
• On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The stock was sold at an average price of $111.82, for a total value of $11,405,640.00.
• On Monday, September 21st, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $111.09, for a total value of $11,109,000.00.
• On Friday, September 18th, Finance Ltd Famatown sold 15,136 shares of International Seaways stock. The stock was sold at an average price of $112.12, for a total value of $1,697,048.32.

International Seaways Stock Performance

NYSE INSW opened at $111.79 on Thursday. The company has a market cap of $5.54 billion, a P/E ratio of 7.15, a PEG ratio of 0.29 and a beta of -0.14. The company has a fifty day simple moving average of $107.93 and a 200 day simple moving average of $84.89. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a 12-month low of $46.09 and a 12-month high of $126.27.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. During the same quarter in the previous year, the business posted $1.02 EPS. International Seaways’s quarterly revenue was up 138.9% on a year-over-year basis. Sell-side analysts predict that International Seaways Inc. will post 17.47 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a dividend of $5.05 per share. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a dividend yield of 18.1%. The ex-dividend date was Thursday, September 10th. International Seaways’s dividend payout ratio is 129.16%.

Hedge Funds Weigh In On International Seaways

Several large investors have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new stake in shares of International Seaways in the 3rd quarter worth $33,000. Quantbot Technologies LP purchased a new stake in shares of International Seaways in the second quarter valued at about $28,000. Mather Group LLC. raised its holdings in shares of International Seaways by 100.0% in the third quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of International Seaways during the third quarter valued at about $56,000. Finally, Allworth Financial LP bought a new position in shares of International Seaways during the second quarter valued at about $48,000. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. B. Riley Financial lifted their price target on International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Weiss Ratings raised International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen downgraded International Seaways from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $109.80.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.