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

Key Points

• William F. Nugent, SVP of International Seaways, sold 1,000 shares at an average price of $40.21, reducing his ownership of the stock by 1.67%.
• International Seaways reported quarterly earnings of $0.80 per share, significantly surpassing analysts' expectations of $0.59, despite a year-over-year revenue decline of 32.9%.
• The company announced a quarterly dividend of $0.12, representing a 1.2% dividend yield, with a low payout ratio of 7.42%.

International Seaways Inc. (NYSE:INSW - Get Free Report) SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $40.21, for a total transaction of $40,210.00. Following the sale, the senior vice president directly owned 58,752 shares of the company's stock, valued at $2,362,417.92. This represents a 1.67% 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 link.

International Seaways Stock Up 0.8%

Shares of INSW stock traded up $0.31 during trading hours on Friday, reaching $40.21. The company had a trading volume of 669,499 shares, compared to its average volume of 775,333. The stock's fifty day simple moving average is $38.71 and its 200 day simple moving average is $36.64. The company has a market capitalization of $1.98 billion, a P/E ratio of 6.21 and a beta of 0.05. 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 twelve month low of $27.20 and a twelve month high of $54.84.

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

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, June 12th. International Seaways's payout ratio is 7.42%.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new stake in International Seaways during the fourth quarter worth about $29,000. GAMMA Investing LLC lifted its stake in International Seaways by 105.1% in the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after buying an additional 596 shares during the last quarter. Quarry LP boosted its holdings in shares of International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after acquiring an additional 852 shares during the period. Blue Trust Inc. grew its position in shares of International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after acquiring an additional 738 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in International Seaways in the 1st quarter valued at about $55,000. Institutional investors own 67.29% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a 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.

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