Jeffrey Pribor Sells 1,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $66.50, for a total transaction of $66,500.00. Following the transaction, the chief financial officer owned 100,521 shares in the company, valued at $6,684,646.50. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jeffrey Pribor also recently made the following trade(s):

• On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00.
• On Thursday, January 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $55.68, for a total transaction of $55,680.00.

International Seaways Stock Performance

International Seaways stock opened at $69.48 on Thursday. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $78.51. The stock’s 50 day simple moving average is $63.75 and its two-hundred day simple moving average is $54.11. 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 stock has a market cap of $3.43 billion, a price-to-earnings ratio of 11.15 and a beta of -0.23.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways’s dividend payout ratio is presently 7.70%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in INSW. First Horizon Corp boosted its holdings in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after acquiring an additional 377 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 378 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of International Seaways in the 4th quarter worth about $44,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of International Seaways in the 4th quarter worth about $46,000. Finally, Rockefeller Capital Management L.P. boosted its stake in International Seaways by 583.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INSW shares. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, March 9th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $68.00.

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.