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 on Tuesday, September 15th. The stock was sold at an average price of $108.01, for a total transaction of $216,020.00. Following the sale, the chief executive officer directly owned 171,745 shares of the company’s stock, valued at approximately $18,550,177.45. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Seaways Trading Up 1.6%

INSW opened at $109.46 on Thursday. The business’s 50-day simple moving average is $95.83 and its 200-day simple moving average is $84.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market cap of $5.42 billion, a P/E ratio of 7.00, a PEG ratio of 0.28 and a beta of -0.13. International Seaways Inc. has a one year low of $42.26 and a one year high of $111.94.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 138.9% on a year-over-year basis. As a group, equities research analysts expect that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a dividend yield of 18.5%. International Seaways’s dividend payout ratio is presently 129.16%.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in shares of International Seaways by 59.3% in the 2nd quarter. Tidal Investments LLC now owns 51,034 shares of the transportation company’s stock worth $3,909,000 after acquiring an additional 18,996 shares during the period. Arlington Capital Management Inc. purchased a new position in shares of International Seaways during the 2nd quarter worth $219,000. Engineers Gate Manager LP grew its position in shares of International Seaways by 43.8% in the second quarter. Engineers Gate Manager LP now owns 13,375 shares of the transportation company’s stock valued at $1,024,000 after purchasing an additional 4,075 shares during the period. Integrated Wealth Concepts LLC purchased a new position in International Seaways during the second quarter worth about $92,000. Finally, NewEdge Advisors LLC grew its holdings in International Seaways by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 11,164 shares of the transportation company’s stock valued at $855,000 after buying an additional 1,390 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a report on Tuesday, September 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Finally, BTIG Research increased their target price on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

About International Seaways

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.