International Seaways, Inc. (NYSE:INSW) SVP Sells $146,916.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 4,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the transaction, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. The trade was a 8.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

International Seaways Trading Up 1.8 %

NYSE INSW opened at $33.57 on Monday. The company’s fifty day simple moving average is $37.30 and its 200-day simple moving average is $41.77. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. 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 stock has a market cap of $1.65 billion, a P/E ratio of 3.24 and a beta of -0.17.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%. International Seaways’s payout ratio is currently 5.72%.

Analysts Set New Price Targets

Several research firms recently commented on INSW. SEB Equity Research set a $50.00 price target on shares of International Seaways in a report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of International Seaways during the fourth quarter worth $29,000. Sunbelt Securities Inc. bought a new stake in shares of International Seaways in the third quarter worth $52,000. Larson Financial Group LLC bought a new stake in shares of International Seaways in the fourth quarter worth $37,000. KBC Group NV increased its stake in shares of International Seaways by 65.2% in 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. Finally, Quarry LP increased its stake in shares of International Seaways by 169.0% in the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock worth $49,000 after buying an additional 852 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.