Derek G. Solon Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSWGet Free Report) SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $64.90, for a total transaction of $64,900.00. Following the transaction, the senior vice president now owns 47,887 shares of the company’s stock, valued at approximately $3,107,866.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Price Performance

Shares of NYSE:INSW opened at $64.96 on Friday. The company’s fifty day moving average is $56.80 and its two-hundred day moving average is $52.02. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $65.94. The company has a market cap of $3.21 billion, a P/E ratio of 6.07 and a beta of -0.05.

International Seaways (NYSE:INSWGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The business had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $249.12 million. During the same period in the previous year, the company posted $3.30 EPS. International Seaways’s revenue was down 4.4% on a year-over-year basis. Equities analysts expect that International Seaways, Inc. will post 10.07 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a $1.75 dividend. The ex-dividend date is Wednesday, June 12th. This is a boost from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 dividend on an annualized basis and a yield of 10.78%. International Seaways’s dividend payout ratio is currently 4.49%.

Institutional Investors Weigh In On International Seaways

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC boosted its holdings in International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares in the last quarter. EntryPoint Capital LLC bought a new stake in International Seaways in the first quarter worth $108,000. Bfsg LLC bought a new stake in International Seaways in the fourth quarter worth $167,000. MQS Management LLC bought a new stake in International Seaways in the first quarter worth $200,000. Finally, Los Angeles Capital Management LLC bought a new stake in International Seaways during the first quarter valued at about $203,000. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INSW shares. Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. Stifel Nicolaus upped their price target on shares of International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. StockNews.com upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $63.25.

Read Our Latest Analysis on International Seaways

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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