International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 25,000 Shares

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the sale, the chief executive officer owned 181,745 shares in the company, valued at $16,008,099.60. The trade was a 12.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Stock Performance

Shares of INSW stock opened at $85.39 on Thursday. The business’s 50 day simple moving average is $75.91 and its 200 day simple moving average is $62.46. International Seaways Inc. has a one year low of $35.60 and a one year high of $92.66. The stock has a market capitalization of $4.23 billion, a PE ratio of 7.78 and a beta of -0.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28.

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

International Seaways Announces Dividend

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

Hedge Funds Weigh In On International Seaways

Large investors have recently modified their holdings of the company. First Horizon Corp lifted its holdings in shares of International Seaways by 121.6% in 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 in the last quarter. Federated Hermes Inc. lifted its holdings in shares of 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 purchasing an additional 378 shares in the last quarter. Leonteq Securities AG bought a new position in shares of International Seaways in the 4th quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways in the 4th quarter worth $46,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of 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. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INSW. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BTIG Research increased their price target on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $100.00 price target on shares of International Seaways in a report on Friday, May 8th. Finally, Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and a consensus target price of $83.50.

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.