International Seaways, Inc. (NYSE:INSW) SVP Sells $35,070.00 in Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the sale, the senior vice president now directly owns 49,803 shares of the company's stock, valued at $1,746,591.21. This trade represents a 1.97 % 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 0.9 %

Shares of NYSE:INSW traded up $0.31 during midday trading on Thursday, hitting $36.25. 732,448 shares of the company's stock traded hands, compared to its average volume of 629,361. The firm's fifty day moving average price is $39.24 and its two-hundred day moving average price is $48.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94. The company has a market cap of $1.78 billion, a PE ratio of 3.50 and a beta of -0.10.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business's revenue was down 6.8% on a year-over-year basis. During the same period last year, the business earned $1.99 EPS. On average, equities research analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 14.57%. This is a positive change from International Seaways's previous quarterly dividend of $0.12. International Seaways's dividend payout ratio (DPR) is presently 4.64%.

Institutional Trading of International Seaways

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company's stock valued at $73,034,000 after purchasing an additional 252,492 shares during the period. Geode Capital Management LLC raised its position in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock worth $48,650,000 after acquiring an additional 38,871 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in International Seaways by 5.3% in the 2nd quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company's stock valued at $52,184,000 after acquiring an additional 44,200 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of International Seaways by 4.1% during the 2nd quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company's stock valued at $50,482,000 after purchasing an additional 33,712 shares in the last quarter. Finally, FMR LLC grew its stake in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after purchasing an additional 414,610 shares during the last quarter. Institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

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

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.