Lois K. Zabrocky Sells 2,000 Shares of International Seaways Inc. (NYSE:INSW) Stock

Key Points

• CEO Lois K. Zabrocky sold 2,000 shares of International Seaways Inc. at an average price of $41.58, totaling $83,160, which resulted in a 1.04% decrease in her holdings.
• International Seaways reported $1.02 earnings per share for the latest quarter, surpassing estimates, but its revenue of $188.82 million was down 24.0% year-over-year.
• The company declared a quarterly dividend of $0.12 per share, with a payout ratio of 9.98%, scheduled to be paid on September 24th.

International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $41.58, for a total transaction of $83,160.00. Following the completion of the transaction, the chief executive officer directly owned 190,771 shares of the company's stock, valued at $7,932,258.18. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Stock Performance

International Seaways stock traded up $1.06 during trading hours on Monday, hitting $42.70. The company had a trading volume of 513,627 shares, compared to its average volume of 769,894. The firm has a market cap of $2.11 billion, a PE ratio of 8.88 and a beta of 0.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. International Seaways Inc. has a one year low of $27.20 and a one year high of $54.84. The firm has a 50-day moving average of $39.80 and a 200 day moving average of $36.94.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The firm had revenue of $188.82 million for the quarter, compared to analysts' expectations of $199.06 million. During the same period in the prior year, the firm earned $2.37 EPS. The business's revenue was down 24.0% on a year-over-year basis. On average, sell-side analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.48 annualized dividend and a dividend yield of 1.1%. International Seaways's dividend payout ratio (DPR) is currently 9.98%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Banque Transatlantique SA bought a new position in International Seaways in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC boosted its position in International Seaways by 105.1% in 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. Quarry LP boosted its position 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 in the last quarter. Blue Trust Inc. boosted its position in International Seaways by 87.3% in the first quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after buying an additional 738 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in International Seaways in the first quarter valued at approximately $55,000. 67.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th. BTIG Research reduced their target price on shares of International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th.

International Seaways Company Profile

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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