Insider Selling: International Seaways, Inc. (NYSE:INSW) CAO Sells 7,500 Shares of Stock

International Seaways, Inc. (NYSE:INSWGet Free Report) CAO James D. Small III sold 7,500 shares of International Seaways stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $55.20, for a total transaction of $414,000.00. Following the sale, the chief accounting officer now owns 55,138 shares in the company, valued at $3,043,617.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

International Seaways Stock Performance

NYSE INSW opened at $56.45 on Thursday. International Seaways, Inc. has a 1 year low of $35.29 and a 1 year high of $65.94. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 5.28 and a beta of -0.04. The company has a fifty day moving average price of $58.93 and a 200-day moving average price of $53.47.

International Seaways (NYSE:INSWGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.54. The company had revenue of $274.40 million for the quarter, compared to the consensus estimate of $249.12 million. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. As a group, equities research analysts predict that International Seaways, Inc. will post 10.07 EPS for the current fiscal 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 $1.75 dividend. This is an increase from International Seaways’s previous quarterly dividend of $1.20. This represents a $7.00 dividend on an annualized basis and a dividend yield of 12.40%. The ex-dividend date of this dividend is Wednesday, June 12th. International Seaways’s payout ratio is 4.49%.

Analysts Set New Price Targets

A number of analysts have commented on INSW shares. Deutsche Bank Aktiengesellschaft boosted their price target 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. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a research note on Thursday, February 29th. StockNews.com upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus upped their target price 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $63.25.

Read Our Latest Stock Report on INSW

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of International Seaways by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after buying an additional 286,295 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after purchasing an additional 122,642 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after purchasing an additional 318,962 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings 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. Finally, American Century Companies Inc. lifted its holdings in International Seaways by 38.1% during the third quarter. American Century Companies Inc. now owns 423,943 shares of the transportation company’s stock valued at $19,077,000 after purchasing an additional 116,923 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

About International Seaways

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for International Seaways (NYSE:INSW)

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