Insider Selling: International Seaways (NYSE:INSW) Treasurer Sells $29,669.03 in Stock

International Seaways Inc. (NYSE:INSW) Treasurer Debra Grillo sold 389 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $76.27, for a total value of $29,669.03. Following the completion of the transaction, the treasurer owned 1,185 shares of the company’s stock, valued at approximately $90,379.95. This represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

International Seaways Stock Down 0.6%

Shares of INSW traded down $0.42 during mid-day trading on Friday, reaching $66.32. 46,954 shares of the stock traded hands, compared to its average volume of 611,741. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 10.65 and a beta of -0.23. The stock has a fifty day simple moving average of $62.24 and a 200 day simple moving average of $53.40. International Seaways Inc. has a 12-month low of $27.20 and a 12-month 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 announced its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The business had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. Sell-side analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways’s dividend payout ratio is presently 7.70%.

Analyst Ratings Changes

Several research firms recently commented on INSW. Deutsche Bank Aktiengesellschaft boosted their price target on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. BTIG Research raised their price objective on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded International Seaways from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Finally, Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $68.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Amundi bought a new stake in shares of International Seaways in the 4th quarter valued at approximately $13,663,000. Donald Smith & CO. Inc. lifted its stake in International Seaways by 43.9% during the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after purchasing an additional 216,325 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in International Seaways by 4,255.3% in the third quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after purchasing an additional 192,848 shares during the period. American Century Companies Inc. boosted its holdings in International Seaways by 9.4% in the second quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock worth $67,674,000 after purchasing an additional 159,125 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in International Seaways during the fourth quarter valued at $7,087,000. Institutional investors own 67.29% of the company’s stock.

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.