International Seaways (NYSE:INSW) Stock Price Down 3.5% - Here's Why

Shares of International Seaways, Inc. (NYSE:INSW - Get Free Report) dropped 3.5% during mid-day trading on Monday . The stock traded as low as $39.07 and last traded at $38.49. Approximately 107,607 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 751,472 shares. The stock had previously closed at $39.91.

Wall Street Analyst Weigh In

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

International Seaways Stock Performance

The stock has a market cap of $1.91 billion, a P/E ratio of 3.74 and a beta of 0.05. The company's 50 day moving average price is $35.62 and its 200-day moving average price is $35.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.59 by $0.21. The firm had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The business's revenue was down 32.9% compared to the same quarter last year. During the same period last year, the firm posted $2.92 earnings per share. Equities analysts forecast that International Seaways, Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, June 12th. International Seaways's payout ratio is 7.42%.

Insiders Place Their Bets

In related news, SVP Derek G. Solon sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $57,330.00. Following the completion of the transaction, the senior vice president now directly owns 55,893 shares of the company's stock, valued at $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $31.66, for a total transaction of $63,320.00. Following the transaction, the chief executive officer now owns 198,771 shares of the company's stock, valued at approximately $6,293,089.86. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,500 shares of company stock valued at $300,720. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Glenorchy Capital Ltd raised its stake in shares of International Seaways by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock valued at $1,809,000 after purchasing an additional 322 shares in the last quarter. Bfsg LLC raised its stake in International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock worth $99,000 after acquiring an additional 357 shares in the last quarter. Farther Finance Advisors LLC raised its stake in International Seaways by 3.6% during the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after acquiring an additional 360 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in International Seaways by 2.8% during the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after acquiring an additional 370 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in International Seaways by 3.9% during the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after acquiring an additional 455 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

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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