Insider Selling: International Seaways (NYSE:INSW) CEO Sells $88,240.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.12, for a total value of $88,240.00. Following the completion of the transaction, the chief executive officer directly owned 186,771 shares in the company, valued at approximately $8,240,336.52. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

International Seaways Stock Up 3.3%

International Seaways stock opened at $46.17 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $50.40. The company has a market cap of $2.28 billion, a PE ratio of 9.60 and a beta of 0.01. The stock’s 50 day moving average price is $45.43 and its 200 day moving average price is $40.09.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The business had revenue of $84.82 million during the quarter. On average, sell-side analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th were paid a $0.12 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.0%. International Seaways’s payout ratio is 9.98%.

Institutional Trading of International Seaways

A number of institutional investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in International Seaways by 9.4% during the second quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock worth $67,674,000 after purchasing an additional 159,125 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of International Seaways by 0.6% in the second quarter. Geode Capital Management LLC now owns 1,006,390 shares of the transportation company’s stock worth $36,718,000 after acquiring an additional 6,076 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after acquiring an additional 216,325 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of International Seaways by 17.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company’s stock worth $18,068,000 after acquiring an additional 80,591 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of International Seaways in the first quarter worth $17,331,000. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. BTIG Research decreased their target price on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.50.

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.