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

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.62, for a total transaction of $77,240.00. Following the completion of the sale, the chief executive officer owned 192,771 shares in the company, valued at $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Price Performance

NYSE:INSW traded down $0.36 during mid-day trading on Friday, reaching $38.91. The stock had a trading volume of 378,329 shares, compared to its average volume of 758,059. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. International Seaways Inc. has a one year low of $27.20 and a one year high of $58.73. The stock has a market capitalization of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. The firm has a 50 day moving average price of $38.35 and a two-hundred day moving average price of $36.48.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.59 by $0.21. The firm had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The business's revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.92 earnings per share. As a group, analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.23%. International Seaways's payout ratio is currently 7.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research report on Thursday, May 8th.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its position in shares of International Seaways by 3.1% during the second quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company's stock worth $517,000 after buying an additional 426 shares during the period. State of Alaska Department of Revenue increased its position in shares of International Seaways by 7.9% during the second quarter. State of Alaska Department of Revenue now owns 24,112 shares of the transportation company's stock worth $878,000 after purchasing an additional 1,761 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of International Seaways during the second quarter worth about $396,000. GAMMA Investing LLC increased its position in International Seaways by 193.4% in the 2nd quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company's stock valued at $124,000 after acquiring an additional 2,249 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in International Seaways by 3.2% in the 2nd quarter. Exchange Traded Concepts LLC now owns 94,040 shares of the transportation company's stock valued at $3,431,000 after acquiring an additional 2,893 shares during the period. Institutional investors and hedge funds own 67.29% of the company's stock.

International Seaways Company Profile

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.