International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 2,000 Shares

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $67.79, for a total transaction of $135,580.00. Following the transaction, the chief executive officer owned 208,745 shares of the company’s stock, valued at $14,150,823.55. The trade was a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

International Seaways Stock Down 1.4%

Shares of INSW stock opened at $67.67 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $78.51. The firm’s fifty day moving average price is $63.44 and its two-hundred day moving average price is $54.00. The firm has a market capitalization of $3.34 billion, a P/E ratio of 10.86 and a beta of -0.23.

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

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. 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 dividend payout ratio (DPR) is currently 7.70%.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after acquiring an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in International Seaways by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after acquiring an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in International Seaways by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after acquiring an additional 18,509 shares during the period. Bank of New York Mellon Corp lifted its holdings in International Seaways by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 319,280 shares of the transportation company’s stock valued at $11,647,000 after purchasing an additional 4,902 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in International Seaways by 25.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,838 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 767 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on INSW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note 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, March 7th. Pareto Securities upgraded 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 upped their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $68.00.

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.