Insider Selling: International Seaways Inc. (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $38.74, for a total value of $77,480.00. Following the completion of the sale, the chief executive officer now owns 194,771 shares in the company, valued at approximately $7,545,428.54. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Trading Down 2.0%

INSW traded down $0.82 during trading on Friday, reaching $40.14. The company had a trading volume of 1,571,013 shares, compared to its average volume of 759,826. The stock has a market cap of $1.98 billion, a P/E ratio of 6.20 and a beta of 0.05. The business has a 50 day simple moving average of $36.38 and a 200-day simple moving average of $36.05. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $60.99. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.59 by $0.21. The firm had revenue of $178.34 million during the quarter, compared to analyst estimates 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 in the prior year, the business posted $2.92 EPS. On average, equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.20%. International Seaways's payout ratio is 7.42%.

Institutional Investors Weigh In On International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in International Seaways by 13.8% in the first quarter. Rhumbline Advisers now owns 136,422 shares of the transportation company's stock worth $4,529,000 after acquiring an additional 16,519 shares during the last quarter. Strs Ohio purchased a new stake in shares of International Seaways during the 1st quarter worth approximately $651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in International Seaways by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company's stock worth $4,264,000 after acquiring an additional 18,509 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of International Seaways by 0.4% during the first quarter. Empowered Funds LLC now owns 274,122 shares of the transportation company's stock valued at $9,101,000 after acquiring an additional 1,090 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in International Seaways by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company's stock worth $800,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued 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.