International Seaways (NYSE:INSW) CEO Sells $168,460.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $84.23, for a total transaction of $168,460.00. Following the transaction, the chief executive officer directly owned 179,745 shares of the company’s stock, valued at $15,139,921.35. This represents a 1.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

International Seaways Price Performance

Shares of NYSE:INSW opened at $86.52 on Thursday. International Seaways Inc. has a 1-year low of $35.60 and a 1-year high of $92.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The business has a fifty day moving average price of $76.98 and a 200-day moving average price of $63.71. The company has a market capitalization of $4.28 billion, a PE ratio of 7.88 and a beta of -0.09.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share 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 firm had revenue of $325.48 million during the quarter, compared to the consensus estimate of $279.34 million. During the same period last year, the company earned $0.80 earnings per share. The company’s revenue was up 77.5% on a year-over-year basis. As a group, equities analysts expect that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

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

Institutional Investors Weigh In On International Seaways

A number of large investors have recently made changes to their positions in INSW. Royal Bank of Canada grew its stake in shares of International Seaways by 42.0% during the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after purchasing an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock valued at $800,000 after purchasing an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock valued at $4,264,000 after acquiring an additional 18,509 shares during the period. Prudential Financial Inc. bought a new stake in shares of International Seaways during the 2nd quarter valued at $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of International Seaways during the 2nd quarter valued at $1,626,000. 67.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INSW shares. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. BTIG Research raised their price target on shares of International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.