International Seaways (NYSE:INSW) CFO Sells $83,720.00 in Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $83.72, for a total transaction of $83,720.00. Following the completion of the transaction, the chief financial officer directly owned 102,984 shares of the company’s stock, valued at approximately $8,621,820.48. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $74.50, for a total value of $74,500.00.
• On Monday, March 16th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $66.50, for a total value of $66,500.00.
• On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $63.29, for a total value of $63,290.00.

International Seaways Stock Performance

International Seaways stock opened at $86.52 on Thursday. The stock’s 50 day simple moving average is $76.98 and its two-hundred day simple moving average is $63.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 7.88 and a beta of -0.09. International Seaways Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $92.66.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. The business had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business’s revenue was up 77.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. As a group, analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is 4.37%.

Analyst Ratings Changes

A number of brokerages recently issued reports on INSW. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price target on shares of International Seaways in a research report on Friday, May 8th. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. BTIG Research lifted their price target on shares of International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently made changes to their positions in INSW. Royal Bank of Canada boosted its holdings in shares of International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after buying an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of International Seaways by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after buying an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of International Seaways by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after buying an additional 18,509 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of International Seaways in the second quarter worth approximately $223,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of International Seaways in the second quarter worth approximately $1,626,000. Hedge funds and other 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.