Derek G. Solon Sells 4,400 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) SVP Derek G. Solon sold 4,400 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now directly owns 50,453 shares in the company, valued at approximately $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Stock Performance

NYSE:INSW traded down $0.25 during mid-day trading on Tuesday, hitting $34.31. 550,431 shares of the company's stock traded hands, compared to its average volume of 680,645. The firm has a 50 day moving average of $37.28 and a two-hundred day moving average of $41.66. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 3.31 and a beta of -0.17. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. International Seaways's dividend payout ratio is currently 5.72%.

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Institutional Trading of International Seaways

Hedge funds have recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of International Seaways in the 4th quarter worth approximately $29,000. Larson Financial Group LLC acquired a new position in shares of International Seaways in the 4th quarter worth approximately $37,000. Quarry LP raised its holdings in shares of International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after buying an additional 852 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of International Seaways in the 3rd quarter worth approximately $52,000. Finally, KBC Group NV raised its holdings in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after buying an additional 428 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on INSW shares. Jefferies Financial Group reiterated a "buy" rating and set a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price target on International Seaways in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.50.

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.