International Seaways (NYSE:INSW) SVP Derek Solon Sells 6,000 Shares

International Seaways Inc. (NYSE:INSW) SVP Derek Solon sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $75.41, for a total value of $452,460.00. Following the sale, the senior vice president directly owned 50,989 shares in the company, valued at $3,845,080.49. This trade represents a 10.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

International Seaways Price Performance

NYSE INSW traded down $0.23 during mid-day trading on Wednesday, hitting $75.38. The stock had a trading volume of 701,687 shares, compared to its average volume of 587,650. The company has a 50 day simple moving average of $59.44 and a 200 day simple moving average of $52.27. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 12.10 and a beta of -0.23. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $78.51. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company had revenue of $267.88 million for the quarter, compared to the consensus estimate of $245.29 million. During the same period in the previous year, the business earned $0.90 earnings per share. International Seaways’s quarterly revenue was up 37.7% compared to the same quarter last year. Equities analysts forecast 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 will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is 7.70%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INSW. BTIG Research upped their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday. Benchmark reissued a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Finally, Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, International Seaways currently has an average rating of “Buy” and a consensus target price of $64.00.

Institutional Trading of International Seaways

A number of institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in shares of International Seaways by 4,255.3% in the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after purchasing an additional 192,848 shares during the period. Marex Group plc bought a new position in International Seaways during the 2nd quarter worth approximately $4,276,000. Denali Advisors LLC boosted its holdings in International Seaways by 94.3% in the third quarter. Denali Advisors LLC now owns 48,774 shares of the transportation company’s stock worth $2,248,000 after purchasing an additional 23,674 shares during the period. Creative Planning boosted its holdings in shares of International Seaways by 270.9% in the 2nd quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock valued at $1,130,000 after buying an additional 22,628 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in International Seaways by 151.4% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,332 shares of the transportation company’s stock valued at $2,780,000 after acquiring an additional 36,337 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.