International Seaways (NYSE:INSW) Director Randee Day Sells 2,635 Shares of Stock

International Seaways Inc. (NYSE:INSW) Director Randee Day sold 2,635 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $75.40, for a total transaction of $198,679.00. Following the sale, the director owned 22,525 shares in the company, valued at $1,698,385. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

International Seaways Price Performance

Shares of INSW stock traded down $1.34 during trading hours on Friday, reaching $71.21. The company’s stock had a trading volume of 183,884 shares, compared to its average volume of 585,209. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.43 and a beta of -0.23. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $78.51. The firm’s 50 day simple moving average is $59.93 and its 200-day simple moving average is $52.41.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.70. The business had revenue of $267.88 million for the quarter, compared to analyst estimates of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. International Seaways’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. Sell-side analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.7%. International Seaways’s payout ratio is presently 7.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. BTIG Research increased their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $64.00.

Institutional Trading of International Seaways

Several large investors have recently made changes to their positions in INSW. Oregon Public Employees Retirement Fund grew its stake in International Seaways by 2.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System boosted its position in International Seaways by 1.7% in the third quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after buying an additional 206 shares during the last quarter. ProShare Advisors LLC raised its position in International Seaways by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after buying an additional 241 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in International Seaways by 2.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 274 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after acquiring an additional 275 shares during the period. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.