International Seaways (NYSE:INSW) SVP Derek Solon Sells 4,700 Shares

International Seaways Inc. (NYSE:INSW) SVP Derek Solon sold 4,700 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total value of $419,334.00. Following the completion of the sale, the senior vice president owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

International Seaways Price Performance

Shares of INSW stock opened at $85.39 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $92.66. The firm has a market cap of $4.23 billion, a P/E ratio of 7.78 and a beta of -0.09. The business’s 50 day moving average price is $75.91 and its 200-day moving average price is $62.46.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. On average, equities research analysts anticipate that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio is 4.37%.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently bought and sold shares of the company. First Horizon Corp grew its position in International Seaways by 121.6% during the 4th 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 last quarter. Federated Hermes Inc. raised its holdings in International Seaways by 99.5% in the third 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 last quarter. Leonteq Securities AG purchased a new position in International Seaways in the fourth quarter worth about $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways in the fourth quarter worth approximately $46,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BTIG Research boosted their price target on shares of International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft raised their price objective on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, 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 research report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and a consensus price target of $83.50.

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.