Insider Selling: International Seaways Inc. (NYSE:INSW) SVP Sells $40,210.00 in Stock

International Seaways Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $40.21, for a total transaction of $40,210.00. Following the transaction, the senior vice president directly owned 58,752 shares in the company, valued at approximately $2,362,417.92. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

International Seaways Stock Up 0.8%

INSW stock opened at $40.21 on Monday. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $54.84. The business has a 50-day simple moving average of $38.77 and a 200 day simple moving average of $36.57. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.98 billion, a PE ratio of 6.21 and a beta of 0.05.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The firm had revenue of $178.34 million for the quarter, compared to analyst estimates of $176.49 million. During the same period last year, the firm earned $2.92 EPS. The business’s quarterly revenue was down 32.9% compared to the same quarter last year. Sell-side analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways’s dividend payout ratio (DPR) is currently 7.42%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of International Seaways in a research report on Thursday, May 8th.

Institutional Investors Weigh In On International Seaways

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 596 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of International Seaways by 139.9% in the 1st quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company’s stock valued at $690,000 after purchasing an additional 12,128 shares in the last quarter. KBC Group NV increased its position in International Seaways by 61.2% during the 1st quarter. KBC Group NV now owns 2,800 shares of the transportation company’s stock worth $93,000 after purchasing an additional 1,063 shares in the last quarter. Deutsche Bank AG increased its position in International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company’s stock worth $1,257,000 after purchasing an additional 11,050 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in International Seaways by 87.3% in the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 738 shares during the last quarter. Institutional investors and hedge funds 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.