International Seaways (NYSE:INSW) Trading Down 3.8% - Here's Why

International Seaways Inc. (NYSE:INSW - Get Free Report) traded down 3.8% during trading on Wednesday . The company traded as low as $38.24 and last traded at $38.18. 57,540 shares changed hands during trading, a decline of 92% from the average session volume of 760,957 shares. The stock had previously closed at $39.70.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a "buy" rating and set a $48.00 price target on shares of International Seaways in a report on Thursday, May 8th.

International Seaways Price Performance

The company's 50-day moving average is $38.14 and its 200-day moving average is $36.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 6.19 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The business had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. During the same period last year, the company earned $2.92 earnings per share. The company's quarterly revenue was down 32.9% on a year-over-year basis. On average, research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. International Seaways's dividend payout ratio is presently 7.42%.

Insider Buying and Selling

In related news, SVP Derek G. Solon sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.22, for a total value of $57,330.00. Following the sale, the senior vice president directly owned 55,893 shares of the company's stock, valued at approximately $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $38.74, for a total transaction of $77,480.00. Following the completion of the sale, the chief executive officer directly owned 194,771 shares in the company, valued at $7,545,428.54. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,500 shares of company stock valued at $382,570. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted 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 valued at $39,000 after buying an additional 596 shares in the last quarter. New York State Teachers Retirement System lifted its position in International Seaways by 139.9% during the first quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock valued at $690,000 after buying an additional 12,128 shares in the last quarter. KBC Group NV lifted its position in International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock valued at $93,000 after buying an additional 1,063 shares in the last quarter. Deutsche Bank AG lifted its position in International Seaways by 46.2% during the fourth quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company's stock valued at $1,257,000 after buying an additional 11,050 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in International Seaways during the fourth quarter valued at approximately $1,121,000. 67.29% of the stock is owned by institutional investors and hedge funds.

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.