International Seaways, Inc. (NYSE:INSW – Get Free Report) 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
Get Our Latest Stock Report on INSW
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.
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