International Seaways (NYSE:INSW) CEO Sells $88,240.00 in Stock

Key Points

• CEO Lois Zabrocky sold 2,000 shares of International Seaways at an average price of $44.12, totaling $88,240.00, reducing her position by 1.06% to 186,771 shares.
• International Seaways reported earnings of ($0.63) per share for the latest quarter, with revenues of $84.82 million and a net margin of 29.88%.
• The company announced a quarterly dividend of $0.12, representing an annualized yield of 1.0% with a payout ratio of 9.98%.

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois Zabrocky sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.12, for a total value of $88,240.00. Following the completion of the transaction, the chief executive officer directly owned 186,771 shares in the company, valued at $8,240,336.52. The trade was a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

International Seaways Stock Performance

INSW traded up $1.46 during trading on Friday, hitting $46.17. The stock had a trading volume of 493,192 shares, compared to its average volume of 714,208. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average price of $45.37 and a 200-day moving average price of $39.89. International Seaways Inc. has a one year low of $27.20 and a one year high of $50.40. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 9.60 and a beta of 0.01.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The firm had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. As a group, research analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. International Seaways's payout ratio is currently 9.98%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of International Seaways in a report on Wednesday, October 8th. BTIG Research lowered their price objective on International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $53.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after purchasing an additional 596 shares in the last quarter. Blue Trust Inc. increased its stake 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 buying an additional 738 shares during the period. Picton Mahoney Asset Management bought a new position in International Seaways in the 1st quarter valued at approximately $55,000. EverSource Wealth Advisors LLC boosted its position in International Seaways by 601.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company's stock worth $55,000 after buying an additional 1,293 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in International Seaways by 550.7% in the 1st 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 during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Company Profile

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.

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