International Seaways (NYSE:INSW) Reaches New 1-Year Low - Should You Sell?

Shares of International Seaways, Inc. (NYSE:INSW - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $31.86 and last traded at $33.31, with a volume of 690779 shares. The stock had previously closed at $33.33.

Analyst Ratings Changes

Several analysts recently commented on INSW shares. Jefferies Financial Group reiterated a "buy" rating and set a $58.00 price objective on shares of International Seaways in a research report on Thursday, February 27th. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.50.

International Seaways Stock Up 1.4 %

The company has a 50-day moving average of $37.55 and a two-hundred day moving average of $42.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The company has a market capitalization of $1.73 billion, a PE ratio of 3.39 and a beta of -0.11.

International Seaways Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. International Seaways's dividend payout ratio (DPR) is presently 5.72%.

Remove Ads

Insider Buying and Selling

In related news, SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.89, for a total value of $33,890.00. Following the completion of the transaction, the senior vice president now owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 3,000 shares of company stock valued at $108,060. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently made changes to their positions in the business. Banque Transatlantique SA purchased a new position in International Seaways in the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new stake in shares of International Seaways during the third quarter valued at approximately $52,000. Larson Financial Group LLC purchased a new position in shares of International Seaways in the fourth quarter worth $37,000. KBC Group NV boosted its position in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock worth $56,000 after acquiring an additional 428 shares during the last quarter. Finally, Quarry LP grew its stake in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after acquiring an additional 852 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

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.