William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $51.24, for a total value of $51,240.00. Following the sale, the senior vice president now owns 52,803 shares of the company’s stock, valued at $2,705,625.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

International Seaways Trading Up 3.1 %

NYSE:INSW opened at $53.00 on Thursday. International Seaways, Inc. has a 12 month low of $40.68 and a 12 month high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $51.08 and a 200-day moving average price of $55.31. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 4.95 and a beta of -0.07.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.13). International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The firm had revenue of $257.40 million for the quarter, compared to the consensus estimate of $256.13 million. During the same period in the previous year, the firm posted $3.12 earnings per share. The business’s revenue was down 11.9% compared to the same quarter last year. Equities analysts predict that International Seaways, Inc. will post 9.51 EPS for the current year.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a $0.12 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INSW shares. Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus increased their target price on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $66.00 price target on shares of International Seaways in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $68.00.

Institutional Trading of International Seaways

Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of International Seaways by 20.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,591 shares of the transportation company’s stock worth $1,027,000 after acquiring an additional 3,844 shares in the last quarter. Lighthouse Investment Partners LLC increased its stake in shares of International Seaways by 73.3% during the fourth quarter. Lighthouse Investment Partners LLC now owns 64,219 shares of the transportation company’s stock valued at $2,921,000 after purchasing an additional 27,153 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after purchasing an additional 139,569 shares during the last quarter. GeoSphere Capital Management LLC purchased a new position in shares of International Seaways during the fourth quarter valued at approximately $2,501,000. Finally, Cim LLC bought a new stake in shares of International Seaways in the 4th quarter worth approximately $192,000. Institutional investors own 67.29% of the company’s stock.

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.