Douglas D. Wheat Sells 4,532 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) Director Douglas D. Wheat sold 4,532 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $58.15, for a total value of $263,535.80. Following the transaction, the director now directly owns 20,634 shares of the company’s stock, valued at $1,199,867.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

International Seaways Price Performance

INSW stock opened at $56.46 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.79 billion, a P/E ratio of 5.28 and a beta of -0.04. The business has a 50 day simple moving average of $58.85 and a 200-day simple moving average of $53.45. International Seaways, Inc. has a twelve month low of $35.29 and a twelve month high of $65.94.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.38 by $0.54. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The firm had revenue of $274.40 million during the quarter, compared to the consensus estimate of $249.12 million. During the same quarter in the prior year, the firm earned $3.30 EPS. International Seaways’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts anticipate that International Seaways, Inc. will post 10.07 EPS for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 12.40%. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INSW shares. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. Stifel Nicolaus lifted their price target on shares of International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Seaways from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $63.25.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in shares of International Seaways by 0.4% in the 3rd quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock valued at $3,384,000 after purchasing an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in International Seaways in the 1st quarter valued at $27,000. Consolidated Portfolio Review Corp increased its stake in International Seaways by 7.0% in the 4th quarter. Consolidated Portfolio Review Corp now owns 7,846 shares of the transportation company’s stock valued at $357,000 after buying an additional 516 shares during the period. Verity Asset Management Inc. raised its position in International Seaways by 6.3% during the 4th quarter. Verity Asset Management Inc. now owns 9,195 shares of the transportation company’s stock worth $418,000 after buying an additional 549 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

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.