Lois K. Zabrocky Sells 2,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, January 15th. The shares were sold at an average price of $41.28, for a total value of $82,560.00. Following the transaction, the chief executive officer now owns 147,045 shares in the company, valued at approximately $6,070,017.60. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

International Seaways Price Performance

NYSE:INSW opened at $38.48 on Friday. 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 one year low of $32.11 and a one year high of $65.94. The company has a fifty day moving average price of $38.14 and a 200 day moving average price of $46.69. The stock has a market cap of $1.89 billion, a P/E ratio of 3.72 and a beta of -0.10.

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

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.32 dividend. The ex-dividend date was Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.72%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 4.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group dropped their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Two equities 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 data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of INSW. Blue Trust Inc. bought a new position in International Seaways in the third quarter worth $41,000. EverSource Wealth Advisors LLC lifted its holdings in shares of International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after acquiring an additional 305 shares during the period. Sunbelt Securities Inc. bought a new position in shares of International Seaways during the 3rd quarter worth about $52,000. KBC Group NV boosted its position in shares of International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 428 shares in the last quarter. Finally, Quarry LP raised its position in International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

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.