International Seaways (NYSE:INSW) Director Alexandra Kate Blankenship Sells 4,000 Shares of Stock

Key Points

• Director Alexandra Blankenship sold 4,000 shares for $418,160 at an average price of $104.54, reducing her stake by 33.18% to 8,055 shares.
• International Seaways reported quarterly EPS of $5.84, below the $6.09 consensus, while revenue of $483.2 million beat estimates and rose 146% year over year.
• The company declared a quarterly dividend of $5.05 per share, equivalent to a 19.2% annualized yield.

International Seaways Inc. (NYSE:INSW - Get Free Report) Director Alexandra Blankenship sold 4,000 shares of the firm's stock in a transaction on Friday, November 13th. The stock was sold at an average price of $104.54, for a total value of $418,160.00. Following the sale, the director directly owned 8,055 shares of the company's stock, valued at approximately $842,069.70. This trade represents a 33.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

International Seaways Trading Up 0.4%

NYSE INSW traded up $0.43 during trading hours on Friday, reaching $105.08. The company had a trading volume of 399,405 shares, compared to its average volume of 629,685. The stock has a 50-day moving average of $108.73 and a 200 day moving average of $87.44. International Seaways Inc. has a 1-year low of $46.09 and a 1-year high of $126.27. The company has a current ratio of 6.69, a quick ratio of 6.53 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $5.37 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 0.17 and a beta of -0.10.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, November 5th. The transportation company reported $5.84 earnings per share for the quarter, missing the consensus estimate of $6.09 by ($0.25). International Seaways had a return on equity of 40.81% and a net margin of 68.19%. The company had revenue of $483.20 million for the quarter, compared to analysts' expectations of $349.50 million. During the same period last year, the business earned $1.15 EPS. The company's quarterly revenue was up 146.0% compared to the same quarter last year. As a group, research analysts anticipate that International Seaways Inc. will post 27.24 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 Wednesday, December 23rd. Stockholders of record on Wednesday, December 9th will be issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 19.2%. The ex-dividend date is Wednesday, December 9th. International Seaways's dividend payout ratio is currently 95.64%.

Analyst Ratings Changes

A number of research firms recently weighed in on INSW. Weiss Ratings raised shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of International Seaways from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 7th. B. Riley Financial boosted their target price on International Seaways from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, October 5th. Deutsche Bank reissued a "buy" rating and issued a $107.00 target price on shares of International Seaways in a research report on Tuesday, September 1st. Finally, Jefferies Financial Group upped their price target on International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $109.80.

Hedge Funds Weigh In On International Seaways

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of International Seaways in the 2nd quarter valued at approximately $505,153,000. Arrowstreet Capital Limited Partnership lifted its position in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock worth $44,330,000 after purchasing an additional 380,931 shares during the last quarter. First Trust Advisors LP lifted its position in shares of International Seaways by 148.9% during the 3rd quarter. First Trust Advisors LP now owns 543,653 shares of the transportation company's stock worth $59,878,000 after purchasing an additional 325,225 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of International Seaways during the 2nd quarter worth $21,082,000. Finally, Empowered Funds LLC purchased a new stake in shares of International Seaways during the 2nd quarter worth $19,711,000. 67.29% of the stock is owned by institutional investors and hedge funds.

About International Seaways

International Seaways, Inc. is an international owner and operator of oceangoing tanker vessels. The company transports crude oil and refined petroleum products for energy companies and other customers. Its fleet includes crude-oil tankers and product carriers that serve global shipping routes, connecting oil-producing regions with refineries and end markets. International Seaways also uses commercial arrangements such as vessel pools and charter contracts to market its ships. The company became an independent publicly traded business in 2016 after being spun off from Overseas Shipholding Group.

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