International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon Sells 1,200 Shares

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total value of $46,692.00. Following the transaction, the senior vice president now directly owns 45,687 shares of the company’s stock, valued at $1,777,681.17. This represents a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

International Seaways Trading Down 1.6 %

NYSE:INSW traded down $0.62 during trading hours on Friday, hitting $39.00. 429,947 shares of the stock were exchanged, compared to its average volume of 579,878. The company’s 50 day moving average is $46.61 and its two-hundred day moving average is $52.81. International Seaways, Inc. has a twelve month low of $38.67 and a twelve month high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The company 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 posted 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. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.99 EPS. On average, sell-side analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.54%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is currently 4.64%.

Wall Street Analyst Weigh In

INSW has been the topic of several research reports. Stifel Nicolaus lowered 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 note on Wednesday, October 23rd. Fearnley Fonds raised International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Institutional Trading of International Seaways

A number of large investors have recently made changes to their positions in INSW. SG Americas Securities LLC increased its holdings in International Seaways by 102.1% during the 2nd quarter. SG Americas Securities LLC now owns 21,082 shares of the transportation company’s stock worth $1,247,000 after purchasing an additional 10,652 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in International Seaways in the 3rd quarter valued at about $2,161,000. QRG Capital Management Inc. lifted its position in International Seaways by 227.5% during the second quarter. QRG Capital Management Inc. now owns 26,253 shares of the transportation company’s stock worth $1,552,000 after acquiring an additional 18,237 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in International Seaways by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 71,206 shares of the transportation company’s stock worth $3,671,000 after acquiring an additional 33,392 shares during the last quarter. Finally, Aurora Investment Counsel bought a new stake in International Seaways during the third quarter worth about $661,000. Institutional investors own 67.29% of the company’s stock.

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.