Derek G. Solon Sells 3,000 Shares of International Seaways Inc. (NYSE:INSW) Stock

Key Points

• Derek G. Solon, SVP of International Seaways Inc., sold 3,000 shares of the company at an average price of $41.35, reducing his ownership by 5.37%.
• International Seaways reported earnings of $1.02 EPS for the last quarter, beating estimates, but saw a 24% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.12 per share, with a payout ratio of 9.98%, to be paid on September 24th.

International Seaways Inc. (NYSE:INSW - Get Free Report) SVP Derek G. Solon sold 3,000 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $41.35, for a total value of $124,050.00. Following the transaction, the senior vice president directly owned 52,893 shares of the company's stock, valued at approximately $2,187,125.55. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

International Seaways Stock Performance

Shares of NYSE INSW traded up $0.15 during trading hours on Friday, reaching $41.66. The stock had a trading volume of 384,258 shares, compared to its average volume of 771,546. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 8.66 and a beta of 0.05. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.84. The firm has a 50-day moving average of $39.71 and a 200-day moving average of $36.92.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. The firm had revenue of $188.82 million during the quarter, compared to analysts' expectations of $199.06 million. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. The business's revenue was down 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.37 EPS. Equities research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.48 annualized dividend and a yield of 1.2%. International Seaways's dividend payout ratio is currently 9.98%.

Analyst Ratings Changes

INSW has been the subject of several analyst reports. BTIG Research lowered their price objective on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 price objective on shares of International Seaways in a research report on Thursday, May 8th.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new position in International Seaways in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC raised its stake in shares of International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after buying an additional 596 shares during the last quarter. Quarry LP raised its stake in shares of International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after buying an additional 852 shares during the last quarter. Blue Trust Inc. raised its stake in shares of International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after buying an additional 738 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of International Seaways during the 1st quarter worth $55,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

About International Seaways

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.

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