International Seaways (NYSE:INSW) Director Sells $374,400.00 in Stock

International Seaways Inc. (NYSE:INSW) Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $74.88, for a total transaction of $374,400.00. Following the transaction, the director owned 10,213 shares of the company’s stock, valued at approximately $764,749.44. This represents a 32.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alexandra Kate Blankenship also recently made the following trade(s):

• On Monday, March 2nd, Alexandra Kate Blankenship sold 4,000 shares of International Seaways stock. The shares were sold at an average price of $75.69, for a total value of $302,760.00.

International Seaways Stock Performance

INSW opened at $66.85 on Friday. The business’s 50-day simple moving average is $62.24 and its 200 day simple moving average is $53.40. 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 firm has a market capitalization of $3.30 billion, a PE ratio of 10.73 and a beta of -0.23.

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

International Seaways Dividend Announcement

The company 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s payout ratio is presently 7.70%.

Analyst Ratings Changes

A number of analysts have commented on INSW shares. Benchmark reiterated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. BTIG Research raised their target price 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. Finally, Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $68.00.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. First Horizon Corp raised its position in shares of International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the period. Federated Hermes Inc. boosted its holdings in shares of International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares during the period. Leonteq Securities AG acquired a new position in International Seaways in the 4th quarter valued at about $44,000. Garton & Associates Financial Advisors LLC acquired a new position in International Seaways in the 4th quarter valued at about $46,000. Finally, Founders Capital Management raised its holdings in International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 300 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.