Lois K. Zabrocky Sells 2,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.30, for a total transaction of $100,600.00. Following the sale, the chief executive officer now owns 155,475 shares of the company’s stock, valued at $7,820,392.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

International Seaways Trading Down 0.7 %

NYSE INSW opened at $50.61 on Thursday. The firm’s 50 day moving average price is $52.07 and its two-hundred day moving average price is $55.35. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 4.73 and a beta of -0.07. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89.

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

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. International Seaways’s dividend payout ratio is 4.49%.

Institutional Trading of International Seaways

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after buying an additional 286,295 shares during the period. American Century Companies Inc. increased its stake 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. Renaissance Technologies LLC increased its stake in shares of International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock worth $52,184,000 after acquiring an additional 44,200 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of International Seaways by 4.1% during the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock worth $50,482,000 after acquiring an additional 33,712 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after purchasing an additional 139,569 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INSW has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Wednesday, August 7th. StockNews.com lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Stifel Nicolaus lifted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $64.75.

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.