International Seaways (NYSE:INSW) CFO Sells $44,690.00 in Stock

Key Points

• International Seaways CFO Jeffrey Pribor sold 1,000 shares at $44.69 each, totaling $44,690, reducing his ownership by 1.53% to 64,502 shares.
• The company announced a quarterly dividend of $0.12 per share, payable on September 24, representing a 1.1% yield.
• After reporting earnings of $1.02 per share, surpassing estimates, the firm's quarterly revenue fell 24% year-over-year to $188.82 million.

International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $44.69, for a total value of $44,690.00. Following the sale, the chief financial officer directly owned 64,502 shares of the company's stock, valued at approximately $2,882,594.38. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

International Seaways Trading Down 0.9%

Shares of International Seaways stock traded down $0.39 during trading on Monday, reaching $44.34. 292,613 shares of the company were exchanged, compared to its average volume of 611,259. 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 Inc. has a twelve month low of $27.20 and a twelve month high of $54.84. The business has a 50-day moving average price of $40.43 and a 200-day moving average price of $37.09. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 9.22 and a beta of 0.05.

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, topping analysts' consensus estimates of $0.91 by $0.11. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The business had revenue of $188.82 million during the quarter, compared to analysts' expectations of $199.06 million. During the same period in the previous year, the firm earned $2.37 earnings per share. The firm's quarterly revenue was down 24.0% compared to the same quarter last year. Sell-side analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.48 annualized dividend and a yield of 1.1%. International Seaways's payout ratio is currently 9.98%.

Institutional Trading of International Seaways

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of International Seaways by 9.4% in the second quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company's stock valued at $67,674,000 after purchasing an additional 159,125 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Seaways by 0.6% in the second quarter. Geode Capital Management LLC now owns 1,006,390 shares of the transportation company's stock valued at $36,718,000 after purchasing an additional 6,076 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings 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 valued at $25,866,000 after purchasing an additional 216,325 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in International Seaways by 17.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company's stock worth $18,068,000 after acquiring an additional 80,591 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in International Seaways during the first quarter worth about $17,331,000. 67.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of International Seaways in a report on Thursday, May 8th. BTIG Research reduced their target price on International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, International Seaways presently has an average rating of "Buy" and a consensus 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.

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