Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells $46,692.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the transaction, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. The trade was a 2.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

International Seaways Trading Down 1.6 %

NYSE INSW opened at $39.00 on Monday. 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 has a fifty day simple moving average of $46.39 and a 200 day simple moving average of $52.52. International Seaways, Inc. has a 12 month low of $38.67 and a 12 month high of $65.94. The firm has a market capitalization of $1.92 billion, a P/E ratio of 3.77 and a beta of -0.06.

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

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.54%. The ex-dividend date is Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is presently 4.64%.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new position in International Seaways in the first quarter worth $27,000. EdgeRock Capital LLC bought a new stake in shares of International Seaways during the 2nd quarter worth $28,000. Blue Trust Inc. purchased a new position in shares of International Seaways in the 3rd quarter worth about $41,000. Sunbelt Securities Inc. bought a new position in International Seaways during the third quarter valued at about $52,000. Finally, KBC Group NV increased its holdings in 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 buying an additional 428 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on INSW shares. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group dropped their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two equities 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

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.