International Seaways, Inc. (INSW) to Issue Quarterly Dividend of $0.12 on June 26th

International Seaways, Inc. (NYSE:INSW) announced a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Shareholders of record on Thursday, June 12th will be given a dividend of 0.12 per share by the transportation company on Thursday, June 26th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, June 12th.

International Seaways has increased its dividend payment by an average of 26.0% per year over the last three years. International Seaways has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Trading Down 1.6%

International Seaways stock opened at $36.74 on Tuesday. The stock has a 50-day moving average of $34.98 and a two-hundred day moving average of $36.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock has a market cap of $1.81 billion, a PE ratio of 3.55 and a beta of 0.05. International Seaways has a one year low of $27.20 and a one year high of $62.31.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.21. The business had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company’s revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.92 earnings per share. On average, research analysts anticipate that International Seaways will post 7.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the sale, the senior vice president now directly owns 56,846 shares of the company’s stock, valued at approximately $1,854,884.98. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total value of $63,320.00. Following the completion of the sale, the chief executive officer now directly owns 198,771 shares in the company, valued at approximately $6,293,089.86. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,900 shares of company stock valued at $516,956. Company insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Several institutional investors have recently bought and sold shares of INSW. Royal Bank of Canada lifted its position in shares of International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after acquiring an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of International Seaways by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after acquiring an additional 900 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of International Seaways by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after acquiring an additional 18,509 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

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.