Insider Selling: International Seaways, Inc. (NYSE:INSW) CFO Sells 1,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the transaction, the chief financial officer now owns 38,849 shares in the company, valued at approximately $2,174,378.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jeffrey Pribor also recently made the following trade(s):

• On Monday, July 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $58.83, for a total value of $58,830.00.
• On Friday, June 7th, Jeffrey Pribor sold 35,000 shares of International Seaways stock. The shares were sold at an average price of $62.37, for a total value of $2,182,950.00.

International Seaways Trading Down 4.8 %

NYSE:INSW opened at $51.85 on Monday. The stock has a 50-day simple moving average of $58.68 and a 200-day simple moving average of $55.86. The stock has a market cap of $2.56 billion, a P/E ratio of 4.85 and a beta of -0.06. International Seaways, Inc. has a 1 year low of $40.11 and a 1 year high of $65.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.54. The business had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.30 EPS. As a group, analysts anticipate that International Seaways, Inc. will post 10.12 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were given a dividend of $1.75 per share. This is a boost from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a dividend yield of 13.50%. The ex-dividend date was Wednesday, June 12th. International Seaways’s dividend payout ratio is currently 4.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INSW. Raymond James & Associates boosted its position in shares of International Seaways by 92.0% during the 4th quarter. Raymond James & Associates now owns 11,671 shares of the transportation company’s stock worth $531,000 after acquiring an additional 5,593 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of International Seaways in the 4th quarter valued at about $4,137,000. Consolidated Portfolio Review Corp lifted its holdings in shares of International Seaways by 7.0% in the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after purchasing an additional 516 shares during the last quarter. Strs Ohio lifted its holdings in shares of International Seaways by 136.6% in the 4th quarter. Strs Ohio now owns 19,400 shares of the transportation company’s stock valued at $882,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in shares of International Seaways in the 4th quarter valued at about $375,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on INSW. Deutsche Bank Aktiengesellschaft lifted their target price on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus boosted their target price on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and a consensus price target of $64.75.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.