International Seaways, Inc. (NYSE:INSW) SVP Sells $32,630.00 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 on Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company's stock, valued at approximately $1,854,884.98. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

International Seaways Stock Up 8.1 %

NYSE INSW traded up $2.32 during trading hours on Monday, reaching $31.08. 627,778 shares of the company's stock traded hands, compared to its average volume of 722,594. The firm has a market cap of $1.53 billion, a PE ratio of 2.99 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. International Seaways, Inc. has a 52-week low of $26.24 and a 52-week high of $65.94. The firm has a 50-day simple moving average of $35.78 and a 200 day simple moving average of $40.03.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. International Seaways's dividend payout ratio is currently 5.72%.

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Wall Street Analyst Weigh In

A number of analysts recently weighed in on INSW shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 111 Capital bought a new position in shares of International Seaways during the fourth quarter valued at $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in International Seaways by 89.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,919 shares of the transportation company's stock valued at $3,950,000 after purchasing an additional 51,884 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in International Seaways by 445.5% in the fourth quarter. Voloridge Investment Management LLC now owns 180,566 shares of the transportation company's stock worth $6,490,000 after buying an additional 147,468 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of International Seaways by 85.5% in the fourth quarter. Vident Advisory LLC now owns 21,947 shares of the transportation company's stock worth $789,000 after buying an additional 10,113 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of International Seaways by 68.1% during the fourth quarter. Squarepoint Ops LLC now owns 118,452 shares of the transportation company's stock valued at $4,257,000 after buying an additional 48,006 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

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.