International Seaways (NYSE:INSW) CEO Sells $98,160.00 in Stock

Key Points

• Lois Zabrocky, CEO of International Seaways, sold 2,000 shares at an average price of $49.08, totaling $98,160, which reduced her ownership by 1.05% to approximately $9.26 million.
• International Seaways' stock is currently down 1.4%, trading at $48.41 with a market cap of $2.39 billion.
• The company recently declared a quarterly dividend of $0.12, reflecting an annual yield of 1.0% and a payout ratio of 9.98%.

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $49.08, for a total value of $98,160.00. Following the transaction, the chief executive officer owned 188,771 shares in the company, valued at $9,264,880.68. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

International Seaways Price Performance

Shares of International Seaways stock traded down $0.18 during trading on Thursday, hitting $48.85. 411,864 shares of the stock traded hands, compared to its average volume of 736,721. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 10.16 and a beta of 0.08. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $54.84. The firm's fifty day moving average is $43.02 and its 200-day moving average is $38.15. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. The company had revenue of $188.82 million during the quarter, compared to analysts' expectations of $199.06 million. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.International Seaways's quarterly revenue was down 24.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.37 EPS. Research analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. International Seaways's dividend payout ratio is currently 9.98%.

Hedge Funds Weigh In On International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of INSW. GAMMA Investing LLC lifted its position in International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares in the last quarter. Blue Trust Inc. lifted its position in shares of International Seaways by 87.3% in the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after acquiring an additional 738 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of International Seaways in the first quarter valued at about $55,000. EverSource Wealth Advisors LLC lifted its position in shares of International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company's stock valued at $55,000 after acquiring an additional 1,293 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company's stock valued at $60,000 after acquiring an additional 1,542 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BTIG Research decreased their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $53.50.

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.