Lois K. Zabrocky Sells 2,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.83, for a total transaction of $83,660.00. Following the transaction, the chief executive officer now owns 151,475 shares in the company, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

International Seaways Stock Performance

Shares of INSW opened at $41.98 on Wednesday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 4.06 and a beta of -0.06. International Seaways, Inc. has a 52 week low of $41.22 and a 52 week high of $65.94. The stock has a 50 day moving average price of $47.93 and a two-hundred day moving average price of $53.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 earnings per share. Equities analysts forecast that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 12.58%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is currently 4.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INSW. Jefferies Financial Group dropped their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and cut their price target for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Fearnley Fonds raised International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. FMR LLC increased its stake in International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after buying an additional 414,610 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of International Seaways during the second quarter valued at approximately $21,875,000. Vanguard Group Inc. increased its position in shares of International Seaways by 7.7% during the first 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 last quarter. American Century Companies Inc. lifted its holdings in International Seaways by 25.7% during the second quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after acquiring an additional 252,492 shares during the period. Finally, Barclays PLC boosted its position in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other 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.