Lois Zabrocky Sells 2,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the completion of the transaction, the chief executive officer owned 173,745 shares of the company’s stock, valued at $17,103,457.80. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Seaways Price Performance

Shares of International Seaways stock traded up $0.66 on Tuesday, hitting $99.02. 541,192 shares of the company traded hands, compared to its average volume of 578,556. International Seaways Inc. has a 52 week low of $41.42 and a 52 week high of $99.68. The business has a 50-day simple moving average of $87.63 and a 200 day simple moving average of $78.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The stock has a market capitalization of $4.90 billion, a P/E ratio of 6.33 and a beta of -0.13.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. International Seaways’s quarterly revenue was up 138.9% on a year-over-year basis. During the same period last year, the company posted $1.02 earnings per share. Research analysts expect that International Seaways Inc. will post 15.89 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $5.05 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 20.4%. International Seaways’s payout ratio is currently 3.07%.

Institutional Trading of International Seaways

A number of large investors have recently made changes to their positions in INSW. Quantbot Technologies LP bought a new stake in shares of International Seaways in the 2nd quarter worth about $28,000. Allworth Financial LP bought a new position in shares of International Seaways in the 2nd quarter valued at about $48,000. First Horizon Corp grew its position in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after acquiring an additional 377 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in International Seaways in the second quarter worth about $66,000. Finally, Leonteq Securities AG bought a new stake in International Seaways during the fourth quarter worth approximately $44,000. 67.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Jefferies Financial Group raised their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. BTIG Research lifted their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, International Seaways presently has an average rating of “Buy” and a consensus target price of $88.00.

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.