International Seaways (NYSE:INSW) CAO James Small III Sells 20,000 Shares

International Seaways Inc. (NYSE:INSW) CAO James Small III sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $75.37, for a total value of $1,507,400.00. Following the transaction, the chief accounting officer owned 36,376 shares in the company, valued at approximately $2,741,659.12. This trade represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Stock Down 0.3%

Shares of INSW traded down $0.19 during trading hours on Friday, hitting $72.36. 108,094 shares of the company were exchanged, compared to its average volume of 583,709. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. The company has a market cap of $3.57 billion, a PE ratio of 11.56 and a beta of -0.23. The firm’s 50 day moving average is $59.93 and its 200-day moving average is $52.41. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $78.51.

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

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is 7.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 20th. Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, International Seaways currently has a consensus rating of “Buy” and a consensus target price of $64.00.

Institutional Trading of International Seaways

Institutional investors have recently modified their holdings of the company. First Horizon Corp lifted 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 purchasing an additional 377 shares during the period. Federated Hermes Inc. boosted its position in shares of International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 378 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of International Seaways during the 4th quarter valued at about $44,000. Garton & Associates Financial Advisors LLC bought a new stake in International Seaways in the fourth quarter valued at about $46,000. Finally, Founders Capital Management raised its position in International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.