Insider Selling: International Seaways (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.34, for a total transaction of $162,680.00. Following the sale, the chief executive officer owned 177,745 shares of the company’s stock, valued at $14,457,778.30. The trade was a 1.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

International Seaways Trading Down 0.6%

Shares of International Seaways stock traded down $0.46 during trading on Wednesday, reaching $81.51. 392,080 shares of the company were exchanged, compared to its average volume of 575,744. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a twelve month low of $36.03 and a twelve month high of $92.66. The business has a 50-day moving average price of $80.91 and a 200-day moving average price of $67.47. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.42 and a beta of -0.12.

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

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.12 dividend. 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 payout ratio is presently 4.37%.

Hedge Funds Weigh In On International Seaways

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in shares of International Seaways by 85.0% in the 1st quarter. Parallel Advisors LLC now owns 1,099 shares of the transportation company’s stock valued at $80,000 after purchasing an additional 505 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of International Seaways in the 1st quarter valued at about $3,010,000. Western Wealth Management LLC purchased a new position in shares of International Seaways in the 1st quarter valued at about $344,000. Cim LLC purchased a new position in shares of International Seaways in the 1st quarter valued at about $541,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INSW. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their target price on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, BTIG Research boosted their target price on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $83.50.

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.