William Nugent Sells 6,830 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) SVP William Nugent sold 6,830 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the sale, the senior vice president owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. This trade represents a 12.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

International Seaways Price Performance

NYSE:INSW opened at $84.57 on Friday. International Seaways Inc. has a 12 month low of $35.60 and a 12 month high of $92.66. The stock has a 50 day moving average of $76.29 and a two-hundred day moving average of $62.87. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.19 billion, a P/E ratio of 7.70 and a beta of -0.09.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, topping 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 company had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the business earned $0.80 EPS. International Seaways’s quarterly revenue was up 77.5% on a year-over-year basis. On average, analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on INSW shares. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, January 20th. BTIG Research boosted their price objective on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.50.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its position in shares of International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its position in shares of International Seaways by 1.7% in the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after purchasing an additional 206 shares in the last quarter. ProShare Advisors LLC lifted its holdings in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after acquiring an additional 241 shares during the last quarter. Evergreen Capital Management LLC grew its position in International Seaways by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock worth $453,000 after acquiring an additional 274 shares during the period. Finally, Guggenheim Capital LLC grew its position in International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after acquiring an additional 275 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

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.