International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $38.74, for a total transaction of $77,480.00. Following the transaction, the chief executive officer now owns 194,771 shares of the company's stock, valued at $7,545,428.54. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
International Seaways Price Performance
INSW stock traded up $1.72 during trading on Tuesday, hitting $40.57. The company had a trading volume of 850,000 shares, compared to its average volume of 754,827. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 6.27 and a beta of 0.05. The business has a 50 day moving average of $35.99 and a 200 day moving average of $36.00. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $60.99. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29.
International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The company had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. During the same quarter in the previous year, the company posted $2.92 EPS. The business's revenue was down 32.9% compared to the same quarter last year. As a group, research analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current year.
International Seaways Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is currently 7.42%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock worth $171,043,000 after acquiring an additional 369,145 shares in the last quarter. American Century Companies Inc. grew its position in International Seaways by 3.9% during the first quarter. American Century Companies Inc. now owns 1,695,985 shares of the transportation company's stock valued at $56,307,000 after purchasing an additional 63,232 shares in the last quarter. Geode Capital Management LLC grew its position in International Seaways by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock valued at $34,084,000 after purchasing an additional 4,769 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in International Seaways by 17.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company's stock valued at $18,068,000 after purchasing an additional 80,591 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in International Seaways during the first quarter valued at approximately $17,331,000. 67.29% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.
View Our Latest Stock Report on International Seaways
International Seaways Company Profile
(
Get Free Report)
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.
Further Reading
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