Lois K. Zabrocky Sells 2,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, January 15th. The stock was sold at an average price of $41.28, for a total value of $82,560.00. Following the completion of the transaction, the chief executive officer now directly owns 147,045 shares of the company’s stock, valued at $6,070,017.60. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

International Seaways Price Performance

Shares of INSW stock traded down $2.23 during trading on Thursday, hitting $39.39. The company had a trading volume of 1,219,181 shares, compared to its average volume of 1,041,548. International Seaways, Inc. has a 52 week low of $32.11 and a 52 week high of $65.94. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 3.81 and a beta of -0.10. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average is $38.32 and its two-hundred day moving average is $46.89.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the firm posted $1.99 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. As a group, analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.41%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Institutional Trading of International Seaways

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of International Seaways during the third quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its position in International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after purchasing an additional 305 shares during the period. Sunbelt Securities Inc. purchased a new position in International Seaways in the 3rd quarter worth $52,000. KBC Group NV lifted its stake in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after purchasing an additional 428 shares during the last quarter. Finally, Quarry LP boosted its position in International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the period. Institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and reduced their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

About International Seaways

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.