International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon Sells 1,200 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the completion of the sale, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

International Seaways Stock Performance

Shares of INSW opened at $39.01 on Friday. International Seaways, Inc. has a 12 month low of $38.67 and a 12 month high of $65.94. The stock has a fifty day moving average price of $46.39 and a 200-day moving average price of $52.66. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.92 billion, a PE ratio of 3.77 and a beta of -0.06.

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

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 13.53%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio is presently 4.64%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On International Seaways

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of International Seaways by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after purchasing an additional 286,295 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of International Seaways by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,988 shares of the transportation company’s stock worth $1,170,000 after acquiring an additional 1,417 shares during the period. Janus Henderson Group PLC boosted its stake in shares of International Seaways by 36.0% during the 1st quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company’s stock worth $1,165,000 after acquiring an additional 5,802 shares in the last quarter. Tidal Investments LLC grew its position in shares of International Seaways by 20.6% during the 1st quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company’s stock valued at $1,920,000 after acquiring an additional 6,166 shares during the period. Finally, Boston Partners increased its stake in shares of International Seaways by 433.9% in the 1st quarter. Boston Partners now owns 163,778 shares of the transportation company’s stock valued at $8,718,000 after purchasing an additional 133,102 shares in the last quarter. 67.29% of the stock is 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.