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

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $39.54, for a total transaction of $39,540.00. Following the transaction, the senior vice president now directly owns 50,803 shares of the company’s stock, valued at $2,008,750.62. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Trading Down 1.9 %

International Seaways stock traded down $0.73 during midday trading on Monday, reaching $38.27. The stock had a trading volume of 588,303 shares, compared to its average volume of 579,914. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 52-week low of $38.12 and a 52-week high of $65.94. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 3.77 and a beta of -0.06. The company has a fifty day moving average of $46.39 and a 200 day moving average of $52.52.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping 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 company had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. During the same period in the prior year, the company posted $1.99 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.80%. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. Price T Rowe Associates Inc. MD increased its holdings in International Seaways by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the transportation company’s stock valued at $1,170,000 after buying an additional 1,417 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of International Seaways by 36.0% in the 1st quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company’s stock worth $1,165,000 after acquiring an additional 5,802 shares during the last quarter. Boston Partners increased its stake in International Seaways by 433.9% during the 1st quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock worth $8,718,000 after buying an additional 133,102 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in International Seaways during the 1st quarter worth approximately $27,000. Finally, CWM LLC increased its stake in International Seaways by 47.9% during the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after buying an additional 476 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INSW has been the subject of several research reports. Jefferies Financial Group dropped their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus downgraded shares of 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 report on Wednesday, October 23rd. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and an average target price of $60.67.

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.