International Seaways (NYSE:INSW) Stock Price Down 5.9% on Insider Selling

Shares of International Seaways Inc. (NYSE:INSW) fell 5.9% during mid-day trading on Monday following insider selling activity. The company traded as low as $103.86 and last traded at $103.47. 408,878 shares were traded during mid-day trading, a decline of 33% from the average session volume of 608,393 shares. The stock had previously closed at $109.99.

Specifically, major shareholder Finance Ltd Famatown sold 61,216 shares of International Seaways stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $117.08, for a total value of $7,167,169.28. Following the completion of the transaction, the insider directly owned 6,704,504 shares of the company’s stock, valued at approximately $784,963,328.32. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Finance Ltd Famatown sold 66,738 shares of the business’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $117.03, for a total value of $7,810,348.14. Following the completion of the transaction, the insider directly owned 6,765,720 shares in the company, valued at $791,792,211.60. This represents a 0.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, major shareholder Finance Ltd Famatown sold 100,000 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $114.97, for a total transaction of $11,497,000.00. Following the sale, the insider owned 6,832,458 shares in the company, valued at $785,527,696.26. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several research firms recently commented on INSW. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Jefferies Financial Group boosted their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.00 price target on shares of International Seaways in a research note on Tuesday, September 1st. Weiss Ratings upgraded International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, B. Riley Financial raised their price objective on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, International Seaways has an average rating of “Buy” and a consensus target price of $109.80.

International Seaways News Roundup

Here are the key news stories impacting International Seaways this week:

• Positive Sentiment: Fleet expansion: International Seaways agreed to acquire Bruton for approximately $370 million, adding four very large crude carriers (VLCCs) to its fleet. The deal increases the company’s exposure to the strong crude-tanker market and could support future revenue, cash flow and scale. International Seaways Expands VLCC Fleet Through Combination with Bruton
• Positive Sentiment: The transaction is structured as a combination with Bruton and gives INSW additional modern VLCC capacity without relying solely on organic fleet growth. Analysts and investors may view this favorably if tanker rates remain elevated. International Seaways Agrees $370 Million Deal That Adds Four VLCCs
• Neutral Sentiment: The reported analyst consensus price target is $109.80, suggesting limited upside relative to recent trading levels and indicating that much of the company’s strong tanker outlook may already be reflected in the valuation. Consensus target for International Seaways stock stands at USD 109.80
• Negative Sentiment: Large shareholder selling: Famatown Finance and related major-shareholder transactions reportedly involved roughly $107 million of INSW stock sold over several months, including numerous sales disclosed recently. The scale of the selling can weigh on the shares by increasing supply and raising concerns about a major investor’s near-term confidence, even though it does not change the company’s operations directly. International Seaways owner sells $107 million stake over months

International Seaways Stock Down 5.9%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 0.27 and a beta of -0.14. The stock’s fifty day moving average is $105.69 and its two-hundred day moving average is $91.22.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.36. The business had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. Sell-side analysts predict that International Seaways Inc. will post 17.08 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 19.5%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, September 10th. International Seaways’s dividend payout ratio (DPR) is currently 129.16%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INSW. Quantbot Technologies LP purchased a new position in shares of International Seaways during the second quarter valued at approximately $28,000. Mather Group LLC. grew its holdings in International Seaways by 100.0% during the third quarter. Mather Group LLC. now owns 400 shares of the transportation company’s stock worth $44,000 after buying an additional 200 shares in the last quarter. Allworth Financial LP bought a new stake in International Seaways during the second quarter worth $48,000. Public Employees Retirement System of Ohio purchased a new stake in International Seaways in the 2nd quarter valued at $66,000. Finally, Compass Financial Management LLC purchased a new stake in International Seaways in the 2nd quarter valued at $86,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. The company transports crude oil, refined petroleum products and other liquid cargoes for energy producers, commodity traders, refiners and other customers worldwide.

Its fleet includes crude-oil tankers serving major international trade routes, as well as product tankers used to move gasoline, diesel, jet fuel and other refined petroleum products. International Seaways employs a combination of time-charter, voyage-charter and pool arrangements to market its vessels and provide transportation services.

International Seaways was established in 2016 through the separation of the international tanker business from Overseas Shipholding Group.