International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent Sells 1,000 Shares

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the sale, the senior vice president now directly owns 52,803 shares in the company, valued at $2,705,625.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

International Seaways Stock Performance

NYSE INSW traded down $0.16 during trading hours on Tuesday, hitting $51.40. The company’s stock had a trading volume of 624,733 shares, compared to its average volume of 571,742. International Seaways, Inc. has a 12 month low of $40.68 and a 12 month high of $65.94. The company’s 50 day simple moving average is $51.22 and its two-hundred day simple moving average is $55.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.89 and a quick ratio of 3.87. The company has a market cap of $2.54 billion, a P/E ratio of 4.84 and a beta of -0.07.

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

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. International Seaways’s dividend payout ratio is presently 4.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INSW shares. Stifel Nicolaus lifted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Wednesday, August 7th. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Fearnley Fonds upgraded shares of International Seaways to a “strong-buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $68.00.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently modified their holdings of INSW. Bailard Inc. increased its position in International Seaways by 2.4% during the second quarter. Bailard Inc. now owns 12,714 shares of the transportation company’s stock valued at $752,000 after acquiring an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of International Seaways by 62.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 305 shares during the period. Consolidated Portfolio Review Corp increased its position in shares of International Seaways by 3.9% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 8,328 shares of the transportation company’s stock valued at $492,000 after purchasing an additional 312 shares during the last quarter. CWM LLC lifted its stake in shares of International Seaways by 47.9% in the 2nd quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares during the period. Finally, EdgeRock Capital LLC bought a new position in International Seaways in the second quarter worth approximately $28,000. 67.29% of the stock is owned by institutional investors.

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.