International Seaways, Inc. (NYSE:INSW) SVP Sells $51,240.00 in Stock

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

International Seaways Price Performance

Shares of NYSE:INSW traded down $0.16 during mid-day trading on Tuesday, reaching $51.40. The stock had a trading volume of 624,733 shares, compared to its average volume of 571,742. The business’s 50 day moving average price is $51.22 and its 200 day moving average price is $55.31. International Seaways, Inc. has a 1 year low of $40.68 and a 1 year high of $65.94. The company has a market cap of $2.54 billion, a P/E ratio of 4.84 and a beta of -0.07. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35.

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

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.48 annualized dividend and a yield of 0.93%. International Seaways’s dividend payout ratio (DPR) is currently 4.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on INSW shares. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of International Seaways in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, International Seaways currently has an average rating of “Buy” and an average target price of $68.00.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the business. EdgeRock Capital LLC purchased a new position in International Seaways during the second quarter worth $28,000. EverSource Wealth Advisors LLC purchased a new position in shares of International Seaways during the 1st quarter worth about $27,000. Headlands Technologies LLC boosted its stake in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. Quarry LP grew its holdings in International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 1,167 shares during the last quarter. Finally, CWM LLC raised its position in 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. 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.