International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois Zabrocky sold 2,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares of the company's stock, valued at $17,103,457.80. The trade was a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
International Seaways Stock Performance
Shares of NYSE:INSW traded up $0.66 during trading on Tuesday, hitting $99.02. The company's stock had a trading volume of 541,192 shares, compared to its average volume of 578,556. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 6.33 and a beta of -0.13. The company has a 50-day moving average of $87.63 and a 200-day moving average of $78.85. International Seaways Inc. has a 12 month low of $41.42 and a 12 month high of $99.68.
International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating analysts' consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The business had revenue of $467.29 million during the quarter, compared to analysts' expectations of $406.38 million. During the same period in the prior year, the company earned $1.02 earnings per share. The firm's revenue was up 138.9% on a year-over-year basis. On average, sell-side analysts expect that International Seaways Inc. will post 15.89 earnings per share for the current year.
International Seaways Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $5.05 dividend. This is a positive change from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 20.4%. International Seaways's dividend payout ratio (DPR) is currently 3.07%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company's stock worth $85,000 after buying an additional 118 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of International Seaways by 4.0% in the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company's stock valued at $353,000 after acquiring an additional 178 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company's stock valued at $452,000 after acquiring an additional 200 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company's stock valued at $380,000 after acquiring an additional 241 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of International Seaways by 1.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company's stock worth $959,000 after acquiring an additional 275 shares during the period. Hedge funds and other institutional investors own 67.29% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Jefferies Financial Group lifted their target price on International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings restated a "buy (b-)" rating on shares of International Seaways in a research report on Friday, August 7th. Pareto Securities downgraded International Seaways from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Zacks Research raised International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Finally, BTIG Research boosted their price objective on International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $88.00.
Read Our Latest Report on INSW
About International Seaways
(
Get Free Report)
International Seaways, Inc NYSE: INSW is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time charter and voyage charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.
Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider International Seaways, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and International Seaways wasn't on the list.
While International Seaways currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
