Lois Zabrocky Sells 2,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $67.79, for a total transaction of $135,580.00. Following the sale, the chief executive officer owned 208,745 shares in the company, valued at approximately $14,150,823.55. This represents a 0.95% 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 1.4%

INSW traded down $0.96 during trading on Tuesday, reaching $67.67. 516,062 shares of the company’s stock were exchanged, compared to its average volume of 617,425. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a one year low of $27.20 and a one year high of $78.51. The firm has a fifty day moving average price of $63.05 and a two-hundred day moving average price of $53.84. The stock has a market capitalization of $3.34 billion, a PE ratio of 10.86 and a beta of -0.23.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.70. The company had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. International Seaways’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, equities research analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th 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 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is 7.70%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. BTIG Research lifted their target price on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Benchmark restated a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. One research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $68.00.

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after buying an additional 822 shares during the period. Fearnley Asset Management AS acquired a new position in shares of International Seaways during the 4th quarter valued at $6,258,000. Invesco Ltd. lifted its position in shares of International Seaways by 27.9% during the 4th quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock valued at $16,601,000 after acquiring an additional 74,635 shares during the period. Mackenzie Financial Corp boosted its stake in International Seaways by 41.4% during the fourth quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after acquiring an additional 5,783 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in International Seaways by 416.1% in the fourth quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock worth $525,000 after purchasing an additional 8,713 shares during the period. 67.29% of the stock is currently owned by 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.