Insider Selling: International Seaways (NYSE:INSW) Director Sells $198,679.00 in Stock

International Seaways Inc. (NYSE:INSW) Director Randee Day sold 2,635 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $75.40, for a total value of $198,679.00. Following the completion of the transaction, the director owned 22,525 shares in the company, valued at $1,698,385. The trade was a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

International Seaways Stock Down 0.1%

NYSE INSW opened at $72.45 on Friday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 11.63 and a beta of -0.23. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $78.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. The stock has a fifty day moving average of $60.41 and a 200-day moving average of $52.69.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.70. The business had revenue of $267.88 million for 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%.The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. International Seaways’s dividend payout ratio is presently 7.70%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on INSW shares. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, January 20th. Finally, Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $64.00.

Institutional Trading of International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of INSW. Fearnley Asset Management AS acquired a new stake in shares of International Seaways in the 4th quarter valued at approximately $6,258,000. Invesco Ltd. grew its holdings in International Seaways by 27.9% during the fourth quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock valued at $16,601,000 after purchasing an additional 74,635 shares during the period. Mackenzie Financial Corp grew its holdings in International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock valued at $954,000 after purchasing an additional 5,783 shares during the period. NewEdge Advisors LLC increased its stake in International Seaways by 416.1% in the fourth quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 8,713 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new stake in International Seaways in the fourth quarter valued at approximately $46,000. 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.