Insider Selling: International Seaways (NYSE:INSW) SVP Sells 3,500 Shares of Stock

International Seaways Inc. (NYSE:INSW) SVP Derek Solon sold 3,500 shares of International Seaways stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $53.71, for a total transaction of $187,985.00. Following the transaction, the senior vice president owned 49,393 shares of the company’s stock, valued at $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

International Seaways Stock Up 0.8%

NYSE INSW traded up $0.41 during mid-day trading on Wednesday, reaching $53.57. The stock had a trading volume of 194,621 shares, compared to its average volume of 694,536. The company has a fifty day moving average price of $47.61 and a 200 day moving average price of $42.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $54.38. The stock has a market cap of $2.65 billion, a PE ratio of 11.13 and a beta of -0.02.

International Seaways (NYSE:INSW) last announced its quarterly 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 29.88% and a return on equity of 11.35%. The company had revenue of $84.82 million for the quarter. On average, research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be given a $0.12 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 annualized dividend and a yield of 0.9%. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

Institutional Trading of International Seaways

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in shares of International Seaways by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 232,362 shares of the transportation company’s stock valued at $7,714,000 after acquiring an additional 7,818 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of International Seaways by 1,452.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company’s stock worth $4,829,000 after acquiring an additional 136,076 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock worth $398,000 after purchasing an additional 455 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of International Seaways during the 1st quarter worth about $631,000. Finally, CWM LLC grew its holdings in International Seaways by 213.1% during the 1st quarter. CWM LLC now owns 5,344 shares of the transportation company’s stock valued at $177,000 after purchasing an additional 3,637 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Pareto Securities lowered International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, BTIG Research decreased their price objective on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.67.

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.