International Seaways Inc. (NYSE:INSW) to Issue $0.12 Quarterly Dividend

International Seaways Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Friday, March 20th will be paid a dividend of 0.12 per share by the transportation company on Monday, March 30th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th.

International Seaways has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Stock Up 4.3%

Shares of INSW traded up $2.97 during midday trading on Thursday, hitting $72.49. The company had a trading volume of 860,982 shares, compared to its average volume of 463,694. The company’s 50-day simple moving average is $57.25 and its 200-day simple moving average is $51.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market capitalization of $3.58 billion, a P/E ratio of 16.51 and a beta of -0.19. International Seaways has a 1 year low of $27.20 and a 1 year high of $72.73.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. The firm had revenue of $267.88 million for the quarter, compared to analyst estimates of $245.29 million. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, sell-side analysts expect that International Seaways will post 7.77 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $48.56, for a total transaction of $97,120.00. Following the completion of the sale, the chief executive officer owned 182,421 shares in the company, valued at $8,858,363.76. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00. Following the completion of the sale, the chief financial officer owned 83,463 shares of the company’s stock, valued at $5,282,373.27. This trade represents a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,000 shares of company stock worth $502,610. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. First Horizon Corp raised its position in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares during the last quarter. Federated Hermes Inc. boosted its stake in International Seaways by 99.5% in 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 last quarter. Leonteq Securities AG acquired a new stake in shares of International Seaways in the fourth quarter worth approximately $44,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of International Seaways in the 4th quarter valued at $46,000. Finally, Founders Capital Management grew its position in International Seaways by 37.5% during the fourth 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. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.