Insider Selling: International Seaways Inc. (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total value of $77,240.00. Following the sale, the chief executive officer owned 192,771 shares in the company, valued at approximately $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Trading Down 0.8%

International Seaways stock traded down $0.32 during mid-day trading on Friday, hitting $38.95. 65,010 shares of the company's stock were exchanged, compared to its average volume of 756,344. The firm has a market capitalization of $1.92 billion, a P/E ratio of 6.03 and a beta of 0.05. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $58.73. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company's 50 day simple moving average is $38.32 and its 200-day simple moving average is $36.46.

International Seaways (NYSE:INSW - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm's revenue was down 32.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.92 EPS. On average, equities analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, June 12th. International Seaways's dividend payout ratio (DPR) is presently 7.42%.

Hedge Funds Weigh In On International Seaways

A number of large investors have recently added to or reduced their stakes in INSW. SummerHaven Investment Management LLC grew its holdings in shares of International Seaways by 3.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,185 shares of the transportation company's stock valued at $517,000 after acquiring an additional 426 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in International Seaways by 7.9% during the second quarter. State of Alaska Department of Revenue now owns 24,112 shares of the transportation company's stock worth $878,000 after purchasing an additional 1,761 shares during the period. Kapitalo Investimentos Ltda bought a new position in International Seaways during the second quarter worth about $396,000. GAMMA Investing LLC grew its holdings in International Seaways by 193.4% during the second quarter. GAMMA Investing LLC now owns 3,412 shares of the transportation company's stock worth $124,000 after purchasing an additional 2,249 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in International Seaways by 3.2% during the second quarter. Exchange Traded Concepts LLC now owns 94,040 shares of the transportation company's stock worth $3,431,000 after purchasing an additional 2,893 shares during the period. Institutional investors own 67.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.