Insider Selling: International Seaways (NYSE:INSW) CFO Sells 1,000 Shares of 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 business's stock in a transaction on Monday, September 15th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value of $44,690.00.

International Seaways Stock Performance

INSW traded down $1.19 on Friday, reaching $47.63. 1,273,374 shares of the stock were exchanged, compared to its average volume of 489,113. 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's 50-day moving average price is $43.35 and its 200 day moving average price is $38.38. The firm has a market capitalization of $2.35 billion, a PE ratio of 9.90 and a beta of 0.08. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.84.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.35% and a net margin of 29.88%.The firm had revenue of $188.82 million during the quarter, compared to analysts' expectations of $199.06 million. During the same period last year, the business posted $2.37 earnings per share. The company's revenue for the quarter was down 24.0% compared to the same quarter last year. As a group, sell-side analysts forecast that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.48 dividend on an annualized basis and a yield of 1.0%. International Seaways's dividend payout ratio (DPR) is currently 9.98%.

Wall Street Analysts Forecast Growth

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 report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $53.50.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of International Seaways by 18.3% during the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company's stock worth $68,000 after purchasing an additional 289 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in International Seaways by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock valued at $457,000 after purchasing an additional 370 shares in the last quarter. Arizona State Retirement System boosted its stake in International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after purchasing an additional 455 shares during the last quarter. Rossby Financial LCC boosted its stake in International Seaways by 3.6% during the 2nd quarter. Rossby Financial LCC now owns 15,386 shares of the transportation company's stock worth $561,000 after purchasing an additional 530 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of International Seaways by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 9,044 shares of the transportation company's stock worth $330,000 after buying an additional 585 shares in the last quarter. 67.29% of the stock is 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.