Insider Selling: International Seaways (NYSE:INSW) Director Sells $418,160.00 in Stock

International Seaways Inc. (NYSE:INSW) Director Alexandra Blankenship sold 4,000 shares of International Seaways stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $104.54, for a total value of $418,160.00. Following the sale, the director directly owned 8,055 shares of the company’s stock, valued at $842,069.70. This trade represents a 33.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Stock Up 0.4%

Shares of NYSE:INSW traded up $0.43 on Friday, hitting $105.08. 399,405 shares of the company’s stock were exchanged, compared to its average volume of 629,685. The firm’s 50-day moving average is $108.73 and its 200 day moving average is $87.44. The company has a market capitalization of $5.37 billion, a PE ratio of 4.98, a P/E/G ratio of 0.17 and a beta of -0.10. International Seaways Inc. has a 1-year low of $46.09 and a 1-year high of $126.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.53 and a current ratio of 6.69.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share for the quarter, missing the consensus estimate of $6.09 by ($0.25). International Seaways had a return on equity of 40.81% and a net margin of 68.19%. The business had revenue of $483.20 million for the quarter, compared to analyst estimates of $349.50 million. During the same period last year, the business posted $1.15 EPS. International Seaways’s revenue was up 146.0% on a year-over-year basis. Sell-side analysts predict that International Seaways Inc. will post 27.24 EPS for the current year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 9th will be paid a $5.05 dividend. This represents a $20.20 annualized dividend and a yield of 19.2%. The ex-dividend date is Wednesday, December 9th. International Seaways’s dividend payout ratio is currently 95.64%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on INSW shares. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Jefferies Financial Group upped their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Deutsche Bank reaffirmed a “buy” rating and issued a $107.00 target price on shares of International Seaways in a research report on Tuesday, September 1st. Finally, B. Riley Financial lifted their price target on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.80.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently made changes to their positions in INSW. Oregon Public Employees Retirement Fund grew its stake in International Seaways by 1.1% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 9,335 shares of the transportation company’s stock worth $1,028,000 after buying an additional 103 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in International Seaways by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after buying an additional 118 shares during the period. Allworth Financial LP lifted its stake in International Seaways by 23.4% in the second quarter. Allworth Financial LP now owns 623 shares of the transportation company’s stock valued at $48,000 after buying an additional 118 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in International Seaways by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 29,150 shares of the transportation company’s stock valued at $3,211,000 after buying an additional 134 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in International Seaways by 4.9% in the third quarter. Park Avenue Securities LLC now owns 3,062 shares of the transportation company’s stock valued at $337,000 after buying an additional 143 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

About International Seaways

International Seaways, Inc. is an international owner and operator of oceangoing tanker vessels. The company transports crude oil and refined petroleum products for energy companies and other customers. Its fleet includes crude-oil tankers and product carriers that serve global shipping routes, connecting oil-producing regions with refineries and end markets. International Seaways also uses commercial arrangements such as vessel pools and charter contracts to market its ships. The company became an independent publicly traded business in 2016 after being spun off from Overseas Shipholding Group.