International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent Sells 1,000 Shares

International Seaways, Inc. (NYSE:INSW - Get Free Report) 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 sale, the senior vice president now owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Stock Up 1.4 %

NYSE:INSW traded up $0.47 during trading hours on Friday, hitting $35.13. 650,124 shares of the company's stock traded hands, compared to its average volume of 677,573. 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 $31.70 and a twelve month high of $65.94. The stock's fifty day moving average price is $37.55 and its two-hundred day moving average price is $42.60. The firm has a market cap of $1.73 billion, a P/E ratio of 3.39 and a beta of -0.11.

International Seaways Cuts Dividend

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

Remove Ads

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings 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 buying an additional 38,871 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in International Seaways in the third quarter worth approximately $2,161,000. Charles Schwab Investment Management Inc. increased its stake in shares of International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock worth $22,205,000 after purchasing an additional 32,825 shares during the last quarter. Barclays PLC raised its holdings in shares of International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after purchasing an additional 174,695 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock valued at $31,050,000 after purchasing an additional 414,610 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.