International Seaways, Inc. (NYSE:INSW) SVP Sells $194,100.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $64.70, for a total value of $194,100.00. Following the transaction, the senior vice president now directly owns 54,803 shares in the company, valued at $3,545,754.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

International Seaways Trading Up 1.5 %

Shares of NYSE INSW opened at $65.08 on Friday. International Seaways, Inc. has a 1-year low of $34.77 and a 1-year high of $65.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. The business’s 50 day moving average is $56.10 and its two-hundred day moving average is $51.64. The stock has a market capitalization of $3.21 billion, a P/E ratio of 6.08 and a beta of -0.05.

International Seaways (NYSE:INSW) last released its earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.54. The firm had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 EPS. As a group, research analysts expect that International Seaways, Inc. will post 10.07 EPS for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 10.76%. The ex-dividend date is Wednesday, June 12th. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Analyst Ratings Changes

Several research firms have weighed in on INSW. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft lifted their target price on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Stifel Nicolaus upped their price target on International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, StockNews.com raised shares of International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $63.25.

Hedge Funds Weigh In On International Seaways

Large investors have recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of International Seaways by 0.4% in the third quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock worth $3,384,000 after buying an additional 300 shares during the period. Consolidated Portfolio Review Corp boosted its holdings in shares of International Seaways by 7.0% in the fourth quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after purchasing an additional 516 shares during the period. Verity Asset Management Inc. grew its stake in International Seaways by 6.3% in the fourth quarter. Verity Asset Management Inc. now owns 9,195 shares of the transportation company’s stock worth $418,000 after purchasing an additional 549 shares in the last quarter. Headlands Technologies LLC increased its holdings in International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of International Seaways by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 7,303 shares of the transportation company’s stock worth $389,000 after buying an additional 574 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.