Insider Selling: International Seaways, Inc. (NYSE:INSW) SVP Sells 1,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the sale, the senior vice president now directly owns 55,852 shares in the company, valued at approximately $1,892,824.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

International Seaways Trading Down 1.2 %

Shares of INSW stock traded down $0.40 during trading hours on Monday, hitting $32.93. 1,479,074 shares of the company’s stock traded hands, compared to its average volume of 664,542. The stock has a market cap of $1.62 billion, a PE ratio of 3.18 and a beta of -0.11. The stock’s 50 day simple moving average is $37.72 and its 200 day simple moving average is $42.96. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio is currently 4.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenorchy Capital Ltd increased its stake in shares of International Seaways by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company’s stock valued at $1,809,000 after buying an additional 322 shares during the period. Bfsg LLC lifted its stake in shares of International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock worth $99,000 after acquiring an additional 357 shares during the period. Farther Finance Advisors LLC boosted its holdings in International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock valued at $375,000 after acquiring an additional 360 shares during the last quarter. Franklin Resources Inc. increased its position in International Seaways by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 379 shares during the period. Finally, KBC Group NV increased its position in International Seaways by 65.2% during the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INSW has been the topic of several recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price objective on shares of International Seaways in a report on Thursday. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $57.50.

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.