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

International Seaways, Inc. (NYSE:INSWGet Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Monday, January 15th. The shares were sold at an average price of $41.28, for a total transaction of $82,560.00. Following the sale, the chief executive officer now directly owns 147,045 shares of the company’s stock, valued at approximately $6,070,017.60. This 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 Stock Performance

INSW opened at $39.39 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $38.23 and its 200-day moving average is $46.84. The stock has a market cap of $1.94 billion, a PE ratio of 3.81 and a beta of -0.10. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94.

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

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 13.41%. The ex-dividend date was Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is currently 4.64%.

Hedge Funds Weigh In On International Seaways

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in shares of International Seaways in the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its position in International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after purchasing an additional 305 shares during the period. Sunbelt Securities Inc. bought a new position in International Seaways during the 3rd quarter valued at $52,000. KBC Group NV increased 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 purchasing an additional 428 shares during the period. Finally, Quarry LP raised its stake in shares of International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after buying an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of several recent research reports. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group lowered their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and cut their target price for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

View Our Latest Stock Analysis on INSW

About International Seaways

(Get Free Report)

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.

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