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

International Seaways Price Performance

Shares of International Seaways stock traded down $1.19 on Friday, reaching $47.63. 1,273,374 shares of the stock were exchanged, compared to its average volume of 489,113. The firm's 50 day moving average is $43.35 and its 200-day moving average is $38.38. The firm has a market cap of $2.35 billion, a PE ratio of 9.90 and a beta of 0.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. International Seaways Inc. has a one year low of $27.20 and a one year high of $54.84.

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

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.48 annualized dividend and a yield of 1.0%. International Seaways's dividend payout ratio (DPR) is 9.98%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On International Seaways

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in International Seaways during the 1st quarter worth approximately $17,331,000. Encompass Capital Advisors LLC bought a new position in shares of International Seaways during the first quarter valued at $9,957,000. Nuveen LLC acquired a new position in shares of International Seaways during the first quarter worth $9,079,000. Donald Smith & CO. Inc. grew its stake in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company's stock worth $25,866,000 after purchasing an additional 216,325 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of International Seaways in the first quarter worth $6,965,000. Institutional investors and hedge funds own 67.29% of the company's stock.

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.