International Seaways Inc. (INSW) To Go Ex-Dividend on June 12th

International Seaways Inc. (NYSE:INSW) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Friday, June 12th will be paid a dividend of 0.12 per share by the transportation company on Friday, June 26th. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th.

International Seaways has raised its dividend payment by an average of 0.6%per year over the last three years. International Seaways has a payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect International Seaways to earn $7.40 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 6.5%.

International Seaways Stock Performance

Shares of INSW opened at $81.11 on Wednesday. International Seaways has a 12 month low of $36.03 and a 12 month high of $92.66. The firm has a fifty day simple moving average of $80.02 and a 200 day simple moving average of $66.47. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 7.39 and a beta of -0.12. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last announced its earnings results 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 net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 77.5% on a year-over-year basis. Research analysts forecast that International Seaways will post 14.99 EPS for the current fiscal year.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the sale, the chief executive officer owned 179,745 shares in the company, valued at $15,139,921.35. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Derek G. Solon sold 4,700 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total transaction of $419,334.00. Following the completion of the sale, the senior vice president owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. This represents a 8.64% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 45,530 shares of company stock worth $3,881,355. 1.70% of the stock is owned by insiders.

Institutional Trading of International Seaways

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of International Seaways by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after buying an additional 52,743 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of International Seaways by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after buying an additional 139,868 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of International Seaways by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after buying an additional 4,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of International Seaways by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after buying an additional 12,188 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after buying an additional 380,931 shares during the last quarter. 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.