Insider Selling: International Seaways (NYSE:INSW) SVP Sells 9,583 Shares of Stock

International Seaways Inc. (NYSE:INSW) SVP William Nugent sold 9,583 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $76.00, for a total transaction of $728,308.00. Following the sale, the senior vice president directly owned 52,572 shares in the company, valued at $3,995,472. The trade was a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

International Seaways Trading Down 0.3%

Shares of NYSE:INSW traded down $0.23 during mid-day trading on Wednesday, reaching $75.38. 701,687 shares of the company’s stock were exchanged, compared to its average volume of 587,650. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $78.51. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 12.10 and a beta of -0.23. The business’s fifty day moving average price is $58.89 and its 200-day moving average price is $52.10.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.70. The business had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.International Seaways’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. On average, research analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be issued a $0.12 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio is presently 7.70%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INSW. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. BTIG Research boosted their target price on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Wall Street Zen downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.00.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in shares of International Seaways by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,972,012 shares of the transportation company’s stock worth $144,290,000 after purchasing an additional 68,248 shares in the last quarter. American Century Companies Inc. raised its stake in International Seaways by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after buying an additional 139,868 shares during the period. Geode Capital Management LLC raised its stake in International Seaways by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after buying an additional 4,250 shares during the period. Donald Smith & CO. Inc. boosted its holdings in International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after acquiring an additional 216,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after acquiring an additional 12,188 shares during the period. 67.29% of the stock is owned by institutional investors.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.