International Seaways (NYSE:INSW) CEO Sells $196,880.00 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 Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the transaction, the chief executive officer owned 173,745 shares in the company, valued at $17,103,457.80. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

International Seaways Trading Down 0.7%

Shares of INSW stock opened at $99.05 on Friday. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $100.50. The firm’s 50 day moving average price is $88.65 and its two-hundred day moving average price is $79.69. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 6.33 and a beta of -0.13.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. The business’s quarterly revenue was up 138.9% compared to the same quarter last year. On average, analysts anticipate that International Seaways Inc. will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $5.05 dividend. This represents a $20.20 annualized dividend and a yield of 20.4%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 10th. International Seaways’s dividend payout ratio is 3.07%.

Institutional Trading of International Seaways

Several large investors have recently modified their holdings of INSW. BlackRock Inc. acquired a new position in shares of International Seaways in the second quarter worth about $505,153,000. Dimensional Fund Advisors LP boosted its holdings in International Seaways by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock valued at $220,436,000 after purchasing an additional 52,743 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $49,083,000 after purchasing an additional 4,250 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 valued at $31,013,000 after purchasing an additional 12,188 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in 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 purchasing an additional 380,931 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BTIG Research upped their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Jefferies Financial Group raised their target price on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.00.

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.