International Seaways (NYSE:INSW) Treasurer Debra Grillo Sells 389 Shares of Stock

International Seaways Inc. (NYSE:INSW) Treasurer Debra Grillo sold 389 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $76.27, for a total value of $29,669.03. Following the completion of the transaction, the treasurer owned 1,185 shares in the company, valued at $90,379.95. This represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

International Seaways Trading Down 3.4%

Shares of International Seaways stock opened at $73.20 on Wednesday. The stock has a 50 day moving average of $61.44 and a 200 day moving average of $53.19. 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 firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 11.75 and a beta of -0.23. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $78.51.

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

International Seaways Announces Dividend

The business also recently disclosed 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. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s payout ratio is 7.70%.

Analyst Ratings Changes

Several brokerages have weighed in on INSW. Deutsche Bank Aktiengesellschaft increased their target price on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. BTIG Research boosted their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Benchmark reiterated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $68.00.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently bought and sold shares of INSW. Fearnley Asset Management AS acquired a new position in International Seaways in the 4th quarter valued at about $6,258,000. Invesco Ltd. lifted its position in shares of International Seaways by 27.9% during the fourth quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock worth $16,601,000 after purchasing an additional 74,635 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after purchasing an additional 5,783 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of 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 during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of International Seaways in the fourth quarter valued at approximately $46,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

About International Seaways

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.