International Seaways (NYSE:INSW) Trading Up 4.1% - Here's Why

International Seaways Inc. (NYSE:INSW - Get Free Report)'s stock price rose 4.1% on Tuesday . The stock traded as high as $40.03 and last traded at $40.44. Approximately 54,038 shares traded hands during trading, a decline of 93% from the average daily volume of 751,524 shares. The stock had previously closed at $38.85.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated 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 Trading Down 2.0%

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 stock's 50-day moving average is $36.52 and its two-hundred day moving average is $36.06. The stock has a market cap of $1.98 billion, a P/E ratio of 6.20 and a beta of 0.05.

International Seaways (NYSE:INSW - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $176.49 million. During the same quarter in the prior year, the business earned $2.92 earnings per share. International Seaways's revenue for the quarter was down 32.9% on a year-over-year basis. Equities research analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.20%. International Seaways's dividend payout ratio (DPR) is currently 7.42%.

Insider Buying and Selling at International Seaways

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $32.63, for a total transaction of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares in the company, valued at $1,854,884.98. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction 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 now owns 198,771 shares of the company's stock, valued at $6,293,089.86. This trade 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 worth $378,200 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 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 acquiring an additional 322 shares during the period. Bfsg LLC raised its stake in shares of International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock valued at $99,000 after acquiring an additional 357 shares during the period. Farther Finance Advisors LLC raised its stake in shares of International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock valued at $375,000 after acquiring an additional 360 shares during the period. SummerHaven Investment Management LLC increased its stake 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 worth $457,000 after buying an additional 370 shares during the period. Finally, Arizona State Retirement System increased its stake in International Seaways by 3.9% in the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock worth $398,000 after buying an additional 455 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.