International Seaways Inc. (NYSE:INSW) SVP Sells $40,210.00 in Stock

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 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 transaction, the senior vice president directly owned 58,752 shares in the company, valued at approximately $2,362,417.92. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Stock Up 2.2%

Shares of NYSE INSW traded up $0.91 during midday trading on Tuesday, hitting $42.55. The company's stock had a trading volume of 337,761 shares, compared to its average volume of 770,250. The business's fifty day simple moving average is $38.85 and its two-hundred day simple moving average is $36.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $54.84. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 6.56 and a beta of 0.05.

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, beating 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 business had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter last year, the firm posted $2.92 earnings per share. The business's revenue for the quarter was down 32.9% compared to the same quarter last year. On average, equities analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The business 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 1.1%. The ex-dividend date was Thursday, June 12th. International Seaways's payout ratio is currently 7.42%.

Institutional Trading of International Seaways

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of International Seaways by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company's stock worth $68,000 after purchasing an additional 289 shares in the last quarter. Glenorchy Capital Ltd boosted its position in shares of International Seaways by 0.6% in the 4th quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock worth $1,809,000 after buying an additional 322 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of International Seaways by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after buying an additional 370 shares in the last quarter. Arizona State Retirement System boosted its position in shares of International Seaways by 3.9% in the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after buying an additional 455 shares in the last quarter. Finally, Rossby Financial LCC boosted its position in shares of International Seaways by 3.6% in the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company's stock worth $561,000 after buying an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company's stock.

Wall Street Analyst Weigh In

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