International Seaways Inc. to Issue Quarterly Dividend of $0.12 (NYSE:INSW)

International Seaways Inc. (NYSE:INSW) announced a quarterly dividend on Wednesday, February 25th. Stockholders of record on Friday, March 20th will be given a dividend of 0.12 per share by the transportation company on Monday, March 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th.

International Seaways has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Seaways to earn $4.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.3%.

International Seaways Trading Up 4.3%

Shares of NYSE:INSW traded up $2.97 during mid-day trading on Thursday, reaching $72.49. 860,982 shares of the company were exchanged, compared to its average volume of 463,694. International Seaways has a 1 year low of $27.20 and a 1 year high of $72.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. The firm’s 50-day simple moving average is $57.25 and its 200 day simple moving average is $51.26. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 17.96 and a beta of -0.19.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The company had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 37.7% compared to the same quarter last year. Equities research analysts forecast that International Seaways will post 7.77 EPS for the current year.

Insider Transactions at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $63.96, for a total transaction of $127,920.00. Following the sale, the chief executive officer directly owned 178,421 shares in the company, valued at approximately $11,411,807.16. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00. Following the completion of the sale, the chief financial officer directly owned 83,463 shares in the company, valued at approximately $5,282,373.27. This trade represents a 1.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,000 shares of company stock worth $502,610 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INSW. Royal Bank of Canada raised its holdings in shares of International Seaways by 42.0% in the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after purchasing an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $800,000 after buying an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 valued at $4,264,000 after buying an additional 18,509 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in International Seaways by 74.3% in the second quarter. Asset Management One Co. Ltd. now owns 54,049 shares of the transportation company’s stock valued at $1,972,000 after buying an additional 23,035 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in International Seaways by 6.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company’s stock worth $330,000 after buying an additional 585 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

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.