International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 2,000 Shares

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $48.56, for a total value of $97,120.00. Following the sale, the chief executive officer directly owned 182,421 shares in the company, valued at approximately $8,858,363.76. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Seaways Stock Up 2.1%

INSW traded up $0.99 on Wednesday, reaching $49.04. The company’s stock had a trading volume of 708,261 shares, compared to its average volume of 677,442. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $55.18. The business’s 50 day moving average is $50.09 and its 200 day moving average is $44.99. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 11.17 and a beta of -0.20.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share (EPS) for the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The business had revenue of $84.82 million during the quarter. As a group, research analysts forecast that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is 10.93%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INSW. Pareto Securities lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.67.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares during the last quarter. Advisory Services Network LLC bought a new stake in International Seaways in the third quarter valued at $53,000. Sunbelt Securities Inc. bought a new stake in International Seaways in the third quarter valued at $64,000. EverSource Wealth Advisors LLC boosted its holdings in shares of International Seaways by 601.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 1,293 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of International Seaways by 450.4% during the third quarter. Hantz Financial Services Inc. now owns 1,541 shares of the transportation company’s stock worth $71,000 after acquiring an additional 1,261 shares during the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.