International Seaways (NYSE:INSW) CEO Sells 25,000 Shares

Key Points

• CEO Lois Zabrocky sold 25,000 shares of International Seaways stock at an average price of $88.08, totaling about $2.2 million. After the sale, she still held 181,745 shares, a 12.09% reduction in ownership.
• The company reported stronger-than-expected quarterly results, posting EPS of $3.90 versus the $2.87 consensus and revenue of $325.48 million, up 77.5% year over year. International Seaways also reported a net margin of 55.39% and return on equity of 21.04%.
• International Seaways announced a quarterly dividend of $0.12 per share, payable June 26 to shareholders of record on June 12. That works out to an annualized yield of 0.6%.

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois Zabrocky sold 25,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $88.08, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chief executive officer owned 181,745 shares of the company's stock, valued at approximately $16,008,099.60. This represents a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Stock Performance

INSW stock traded down $3.01 during midday trading on Wednesday, hitting $85.39. 663,700 shares of the stock traded hands, compared to its average volume of 593,206. International Seaways Inc. has a 1-year low of $35.60 and a 1-year high of $92.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The stock's fifty day simple moving average is $75.73 and its 200-day simple moving average is $62.21. The firm has a market cap of $4.23 billion, a P/E ratio of 7.78 and a beta of -0.09.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same period in the prior year, the company posted $0.80 EPS. The company's revenue for the quarter was up 77.5% on a year-over-year basis. On average, analysts expect that International Seaways Inc. will post 13.6 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways's dividend payout ratio is currently 4.37%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INSW. Zacks Research downgraded International Seaways from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen raised shares of International Seaways from a "buy" rating to a "strong-buy" rating in a report on Monday, April 13th. Jefferies Financial Group restated a "buy" rating and set a $100.00 price objective on shares of International Seaways in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a "buy" rating in a report on Monday, March 9th. Finally, Weiss Ratings raised shares of International Seaways from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.50.

Hedge Funds Weigh In On International Seaways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in International Seaways by 42.0% in the 1st quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company's stock valued at $311,000 after purchasing an additional 2,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company's stock worth $800,000 after purchasing an additional 900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company's stock worth $4,264,000 after purchasing an additional 18,509 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of International Seaways during the second quarter worth $223,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of International Seaways during the second quarter worth $1,626,000. Hedge funds and other institutional investors own 67.29% of the company's stock.

About International Seaways

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.

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