International Seaways, Inc. (NYSE:INSW) CAO James D. Small III Sells 7,500 Shares

International Seaways, Inc. (NYSE:INSW) CAO James D. Small III sold 7,500 shares of International Seaways stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $55.20, for a total value of $414,000.00. Following the sale, the chief accounting officer now directly owns 55,138 shares in the company, valued at approximately $3,043,617.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

International Seaways Stock Performance

NYSE:INSW opened at $55.05 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. International Seaways, Inc. has a 1 year low of $35.29 and a 1 year high of $65.94. The stock’s 50 day simple moving average is $58.74 and its two-hundred day simple moving average is $53.38. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 5.14 and a beta of -0.04.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.54. The business had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 EPS. As a group, equities analysts anticipate that International Seaways, Inc. will post 10.07 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $7.00 annualized dividend and a dividend yield of 12.72%. This is an increase from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s payout ratio is currently 4.49%.

Hedge Funds Weigh In On International Seaways

Several large investors have recently modified their holdings of INSW. EverSource Wealth Advisors LLC bought a new position in shares of International Seaways during the 1st quarter valued at approximately $27,000. Headlands Technologies LLC increased its position in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 574 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of International Seaways during the 1st quarter valued at approximately $108,000. Bfsg LLC bought a new position in shares of International Seaways during the 4th quarter valued at approximately $167,000. Finally, U S Global Investors Inc. increased its position in shares of International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on International Seaways from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lifted their target price on International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $63.25.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.