International Seaways (NYSE:INSW) Stock: Insider Finance Ltd Famatown Sells 64,821 Shares

Key Points

• Finance Ltd Famatown sold 64,821 International Seaways shares at an average price of $125.05, generating approximately $8.1 million. The sale reduced its stake by 0.99%, though it still owns about 6.5 million shares valued at roughly $812.9 million.
• International Seaways reported strong quarterly results, with EPS of $5.91 exceeding estimates and revenue rising 138.9% year over year to $467.3 million. The stock traded near $111.79, close to its 52-week high of $126.27.
• The company announced a quarterly dividend of $5.05, implying an annualized yield of 18.1%, while analysts maintained an overall “Buy” consensus with an average price target of $109.80.

International Seaways Inc. (NYSE:INSW - Get Free Report) major shareholder Finance Ltd Famatown sold 64,821 shares of the business's stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $125.05, for a total transaction of $8,105,866.05. Following the sale, the insider owned 6,500,566 shares in the company, valued at $812,895,778.30. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Finance Ltd Famatown also recently made the following trade(s):

• On Tuesday, October 13th, Finance Ltd Famatown sold 38,917 shares of International Seaways stock. The shares were sold at an average price of $122.06, for a total value of $4,750,209.02.
• On Friday, October 9th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $121.55, for a total value of $12,155,000.00.
• On Thursday, October 8th, Finance Ltd Famatown sold 200 shares of International Seaways stock. The shares were sold at an average price of $118.50, for a total transaction of $23,700.00.
• On Wednesday, October 7th, Finance Ltd Famatown sold 61,216 shares of International Seaways stock. The shares were sold at an average price of $117.08, for a total value of $7,167,169.28.
• On Tuesday, October 6th, Finance Ltd Famatown sold 66,738 shares of International Seaways stock. The stock was sold at an average price of $117.03, for a total value of $7,810,348.14.
• On Monday, October 5th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $114.97, for a total transaction of $11,497,000.00.
• On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The stock was sold at an average price of $111.82, for a total transaction of $11,405,640.00.
• On Monday, September 21st, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $111.09, for a total transaction of $11,109,000.00.
• On Friday, September 18th, Finance Ltd Famatown sold 15,136 shares of International Seaways stock. The shares were sold at an average price of $112.12, for a total value of $1,697,048.32.

International Seaways Stock Up 0.3%

Shares of NYSE:INSW traded up $0.38 on Wednesday, reaching $111.79. The company had a trading volume of 818,511 shares, compared to its average volume of 621,209. International Seaways Inc. has a twelve month low of $46.09 and a twelve month high of $126.27. The stock has a 50-day moving average price of $107.93 and a 200 day moving average price of $84.89. The stock has a market capitalization of $5.54 billion, a P/E ratio of 7.15, a P/E/G ratio of 0.29 and a beta of -0.14. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The firm's revenue was up 138.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 EPS. On average, equities analysts expect that International Seaways Inc. will post 17.47 EPS for the current year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $5.05 dividend. This is an increase from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 18.1%. International Seaways's dividend payout ratio is presently 129.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings raised International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Zacks Research raised shares of International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. Wall Street Zen downgraded shares of International Seaways from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Jefferies Financial Group raised their target price on shares of International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $109.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INSW. BlackRock Inc. bought a new position in International Seaways during the second quarter worth $505,153,000. Dimensional Fund Advisors LP boosted its holdings in International Seaways by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company's stock valued at $220,436,000 after purchasing an additional 52,743 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock valued at $44,330,000 after purchasing an additional 380,931 shares during the period. Bank of New York Mellon Corp acquired a new stake in International Seaways in the 2nd quarter worth $21,082,000. Finally, Empowered Funds LLC acquired a new stake in International Seaways in the 2nd quarter worth $19,711,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

About International Seaways

International Seaways, Inc NYSE: INSW is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company's fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.

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