International Seaways (NYSE:INSW) CEO Sells $2,202,000.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total value of $2,202,000.00. Following the completion of the transaction, the chief executive officer directly owned 181,745 shares in the company, valued at $16,008,099.60. This trade represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Trading Down 1.1%

NYSE:INSW opened at $84.57 on Friday. The business’s 50-day moving average is $76.29 and its two-hundred day moving average is $62.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. International Seaways Inc. has a 12 month low of $35.60 and a 12 month high of $92.66. The firm has a market capitalization of $4.19 billion, a PE ratio of 7.70 and a beta of -0.09.

International Seaways (NYSE:INSW) last announced its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. Research analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s payout ratio is presently 4.37%.

Analysts Set New Price Targets

INSW has been the subject of several research analyst reports. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Zacks Research downgraded International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Corp grew its holdings in shares of International Seaways by 121.6% during the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares in the last quarter. Federated Hermes Inc. boosted its holdings in International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 378 shares during the period. Leonteq Securities AG bought a new stake in International Seaways during the fourth quarter valued at about $44,000. Garton & Associates Financial Advisors LLC bought a new stake in International Seaways during the fourth quarter valued at about $46,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 822 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

International Seaways Company Profile

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.