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 dated Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at approximately $1,746,591.21. This represents a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

International Seaways Price Performance

NYSE INSW opened at $36.25 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 3.50 and a beta of -0.10. The company’s 50 day moving average is $39.24 and its two-hundred day moving average is $48.20.

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. The firm had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.99 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 14.57%. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, December 13th. International Seaways’s payout ratio is presently 4.64%.

Analyst Upgrades and Downgrades

INSW has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in International Seaways in the 3rd quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its position in shares of International Seaways by 62.8% during the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after buying an additional 305 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of International Seaways in the third quarter worth $52,000. KBC Group NV boosted its position in shares of International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the last quarter. Finally, Quarry LP grew its stake in International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

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.