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 stock in a transaction on Friday, November 29th. The stock was sold at an average price of $39.54, for a total transaction of $39,540.00. Following the sale, the senior vice president now owns 50,803 shares of the company’s stock, valued at approximately $2,008,750.62. This represents a 1.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

International Seaways Price Performance

Shares of NYSE INSW traded down $0.73 during midday trading on Monday, hitting $38.27. The company had a trading volume of 588,303 shares, compared to its average volume of 579,914. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a twelve month low of $38.12 and a twelve month high of $65.94. The business has a 50-day simple moving average of $46.39 and a two-hundred day simple moving average of $52.52. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 3.77 and a beta of -0.06.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating 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 firm had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $208.75 million. During the same quarter last year, the business earned $1.99 earnings per share. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities research analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current year.

International Seaways Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.32 per share. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 13.80%. The ex-dividend date of this dividend is Friday, December 13th. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On International Seaways

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of International Seaways in the second quarter worth approximately $21,875,000. American Century Companies Inc. boosted its position in shares of 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 worth $73,034,000 after acquiring an additional 252,492 shares during the last quarter. Barclays PLC lifted its position in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after buying an additional 174,695 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in International Seaways during the second quarter valued at approximately $8,781,000. 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.