International Seaways (NYSE:INSW) CFO Sells $48,270.00 in Stock

Key Points

• Jeffrey Pribor, CFO of International Seaways, sold 1,000 shares of the company's stock for $48,270, reducing his ownership by 1.55% and leaving him with 63,502 shares valued at approximately $3.07 million.
• International Seaways reported $1.02 EPS for the most recent quarter, exceeding analyst expectations of $0.91, despite a 24% decline in revenue year-over-year.
• The company has announced a quarterly dividend of $0.12 per share, effective September 24th, representing an annualized dividend yield of 1.0%.

International Seaways Inc. (NYSE:INSW - Get Free Report) CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $48.27, for a total transaction of $48,270.00. Following the sale, the chief financial officer directly owned 63,502 shares in the company, valued at $3,065,241.54. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Jeffrey Pribor also recently made the following trade(s):

• On Friday, August 22nd, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $44.69, for a total transaction of $44,690.00.

International Seaways Stock Performance

NYSE INSW traded down $0.71 on Tuesday, hitting $48.41. 467,769 shares of the stock were exchanged, compared to its average volume of 479,476. 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 business's fifty day moving average is $42.80 and its 200 day moving average is $38.07. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $54.84. The company has a market capitalization of $2.39 billion, a PE ratio of 11.45 and a beta of 0.08.

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

International Seaways Dividend Announcement

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

Hedge Funds Weigh In On International Seaways

Several large investors have recently modified their holdings of INSW. GAMMA Investing LLC increased its position in International Seaways by 105.1% during the first quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after acquiring an additional 596 shares during the period. EverSource Wealth Advisors LLC increased its position in International Seaways by 601.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company's stock worth $55,000 after acquiring an additional 1,293 shares during the period. Blue Trust Inc. increased its position in International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after acquiring an additional 738 shares during the period. Picton Mahoney Asset Management bought a new position in International Seaways during the first quarter worth about $55,000. Finally, PNC Financial Services Group Inc. increased its position in International Seaways by 550.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company's stock worth $60,000 after acquiring an additional 1,542 shares during the period. 67.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, BTIG Research dropped their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock 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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