International Seaways Inc. (NYSE:INSW) SVP William F. Nugent Sells 1,000 Shares

International Seaways Inc. (NYSE:INSW - Get Free Report) SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $37.00, for a total value of $37,000.00. Following the sale, the senior vice president directly owned 59,752 shares in the company, valued at approximately $2,210,824. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Trading Up 0.3%

INSW traded up $0.13 during midday trading on Friday, hitting $38.87. 341,805 shares of the company were exchanged, compared to its average volume of 760,556. The firm's 50 day moving average price is $37.60 and its 200-day moving average price is $36.18. International Seaways Inc. has a 1-year low of $27.20 and a 1-year high of $59.89. The firm has a market capitalization of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. 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 announced its earnings results 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 business had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm's revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.92 earnings per share. As a group, equities analysts forecast that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

Hedge Funds Weigh In On International Seaways

A number of hedge funds have recently bought and sold shares of the company. Glenorchy Capital Ltd grew its holdings in International Seaways by 0.6% during the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock worth $1,809,000 after acquiring an additional 322 shares during the period. Farther Finance Advisors LLC boosted its stake in International Seaways by 3.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after acquiring an additional 360 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in International Seaways by 2.8% during the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after acquiring an additional 370 shares in the last quarter. Arizona State Retirement System grew its holdings in International Seaways by 3.9% in the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after purchasing an additional 455 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in International Seaways by 30.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock valued at $88,000 after purchasing an additional 564 shares in the last quarter. Institutional investors own 67.29% of the company's stock.

Analysts Set New Price Targets

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

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.