Insider Selling: International Seaways, Inc. (NYSE:INSW) Director Sells $245,850.00 in Stock

International Seaways, Inc. (NYSE:INSW) Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the completion of the sale, the director now owns 16,109 shares of the company’s stock, valued at $792,079.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Trading Up 0.4 %

Shares of NYSE INSW opened at $49.32 on Monday. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $52.45 and a two-hundred day simple moving average of $55.40. The firm has a market cap of $2.45 billion, a PE ratio of 4.61 and a beta of -0.07.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The business had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. During the same period last year, the company earned $3.12 earnings per share. The firm’s revenue was down 11.9% compared to the same quarter last year. Analysts expect that International Seaways, Inc. will post 9.51 earnings per share for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. International Seaways’s dividend payout ratio is presently 4.49%.

Hedge Funds Weigh In On International Seaways

A number of large investors have recently bought and sold shares of INSW. Vanguard Group Inc. increased its holdings in shares of International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after acquiring an additional 286,295 shares during the period. Dimensional Fund Advisors LP boosted its position in International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after purchasing an additional 122,642 shares in the last quarter. American Century Companies Inc. grew its stake in International Seaways by 25.7% in the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock valued at $73,034,000 after purchasing an additional 252,492 shares during the last quarter. Renaissance Technologies LLC raised its holdings in International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after purchasing an additional 44,200 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of International Seaways by 4.1% during the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock valued at $50,482,000 after buying an additional 33,712 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INSW. StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their price objective on shares of International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $66.00 target price on shares of International Seaways in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.75.

About International Seaways

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.