Insider Selling: International Seaways (NYSE:INSW) CEO Sells $216,020.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the sale, the chief executive officer owned 171,745 shares of the company’s stock, valued at $18,550,177.45. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Trading Up 1.6%

INSW traded up $1.72 during trading on Wednesday, hitting $109.46. 809,726 shares of the stock traded hands, compared to its average volume of 585,874. The firm has a market capitalization of $5.42 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 0.27 and a beta of -0.13. International Seaways Inc. has a 12-month low of $42.26 and a 12-month high of $111.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The firm has a 50-day moving average of $95.41 and a 200 day moving average of $84.50.

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, beating analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. The company’s revenue for the quarter was up 138.9% compared to the same quarter last year. Equities research analysts anticipate that International Seaways Inc. will post 16.09 EPS for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $5.05 per share. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a dividend yield of 18.5%. The ex-dividend date of this dividend is Thursday, September 10th. International Seaways’s payout ratio is 129.16%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BTIG Research lifted their price objective on International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $107.00 price target on shares of International Seaways in a report on Tuesday, September 1st. Jefferies Financial Group upped their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in International Seaways in the second quarter worth approximately $505,153,000. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $44,330,000 after buying an additional 380,931 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of International Seaways during the 2nd quarter valued at $21,082,000. Empowered Funds LLC bought a new position in shares of International Seaways during the 2nd quarter valued at $19,711,000. Finally, Acorn Financial Advisory Services Inc. ADV purchased a new position in shares of International Seaways in the 1st quarter worth $13,145,000. 67.29% of the stock is owned by institutional investors.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.