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

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the sale, the senior vice president now directly owns 56,846 shares of the company’s stock, valued at $1,854,884.98. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Price Performance

NYSE INSW traded down $0.41 during trading on Wednesday, reaching $32.91. 95,365 shares of the company traded hands, compared to its average volume of 881,120. International Seaways, Inc. has a 1-year low of $31.70 and a 1-year high of $65.94. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 3.18 and a beta of -0.17. The stock’s 50 day moving average price is $36.10 and its two-hundred day moving average price is $40.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INSW. Jefferies Financial Group restated a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, International Seaways has an average rating of “Moderate Buy” and an average price target of $57.50.

Hedge Funds Weigh In On International Seaways

Institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in International Seaways during the fourth quarter worth about $29,000. Sunbelt Securities Inc. acquired a new position in shares of International Seaways in the 3rd quarter worth approximately $52,000. Larson Financial Group LLC bought a new stake in International Seaways during the 4th quarter worth approximately $37,000. Quarry LP increased its holdings in International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares in the last quarter. Finally, R Squared Ltd bought a new position in International Seaways in the 4th quarter valued at $59,000. 67.29% of the stock is owned by institutional investors.

International Seaways Company Profile

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.