Insider Selling: International Seaways Inc. (NYSE:INSW) CAO Sells 5,000 Shares of Stock

Key Points

• International Seaways' CAO James D. Small III sold 5,000 shares at an average price of $41.35, significantly reducing his ownership by 6.73% to 69,292 shares.
• The company reported a quarterly EPS of $1.02, beating estimates, but revenues decreased by 24% year-on-year, amounting to $188.82 million.
• International Seaways announced a quarterly dividend of $0.12 per share, with a payout ratio of 9.98%, set to be paid on September 24th to investors on record by September 10th.

International Seaways Inc. (NYSE:INSW - Get Free Report) CAO James D. Small III sold 5,000 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $41.35, for a total transaction of $206,750.00. Following the completion of the transaction, the chief accounting officer directly owned 69,292 shares of the company's stock, valued at $2,865,224.20. The trade was a 6.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

International Seaways Stock Performance

NYSE INSW traded up $0.15 during trading hours on Friday, hitting $41.66. The company 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 P/E ratio of 8.66 and a beta of 0.05. The company has a quick ratio of 0.95, a current 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 business has a fifty day simple moving average of $39.71 and a 200-day simple moving average of $36.92.

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

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors 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 (DPR) is currently 9.98%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INSW. LPL Financial LLC acquired a new position in shares of International Seaways in the 4th quarter valued at $470,000. Geode Capital Management LLC boosted its position in International Seaways by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock worth $34,084,000 after acquiring an additional 4,769 shares during the period. Wells Fargo & Company MN boosted its position in International Seaways by 34.2% during the 4th quarter. Wells Fargo & Company MN now owns 29,131 shares of the transportation company's stock worth $1,047,000 after acquiring an additional 7,431 shares during the period. Envestnet Asset Management Inc. boosted its position in International Seaways by 82.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 9,368 shares of the transportation company's stock worth $337,000 after acquiring an additional 4,236 shares during the period. Finally, Invesco Ltd. boosted its position in International Seaways by 50.9% during the 4th quarter. Invesco Ltd. now owns 157,656 shares of the transportation company's stock worth $5,666,000 after acquiring an additional 53,207 shares during the period. Institutional investors own 67.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INSW. BTIG Research decreased their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.