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

International Seaways Inc. (NYSE:INSW - Get Free Report) shares traded down 3.8% 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.

Analyst Upgrades and Downgrades

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

International Seaways Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 5.87 and a beta of 0.05. The company's 50 day moving average price is $37.83 and its 200-day moving average price is $36.31.

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

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.26%. International Seaways's payout ratio is presently 7.42%.

Insider Activity

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $37.00, for a total value of $37,000.00. Following the sale, the senior vice president owned 59,752 shares of the company's stock, valued at approximately $2,210,824. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer directly owned 198,771 shares of the company's stock, valued at approximately $6,293,089.86. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock valued at $382,570 over the last quarter. 2.00% of the stock is owned by company insiders.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Transatlantique SA acquired a new position in shares of International Seaways in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new stake in shares of International Seaways during the 4th quarter worth about $37,000. GAMMA Investing LLC boosted its position in shares of International Seaways by 105.1% in 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 last quarter. Quarry LP raised its holdings in International Seaways by 169.0% in the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after buying an additional 852 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of International Seaways by 87.3% during the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after purchasing an additional 738 shares during the period. Hedge funds and other institutional investors own 67.29% of the company's stock.

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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