International Seaways (NYSE:INSW) Reaches New 12-Month High at $55.65

International Seaways, Inc. (NYSE:INSW - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $55.65 and last traded at $55.50, with a volume of 112274 shares changing hands. The stock had previously closed at $55.13.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INSW. Jefferies Financial Group reiterated a "buy" rating and set a $66.00 target price on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com cut shares of International Seaways from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Stifel Nicolaus lifted their target price on shares of International Seaways from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, April 19th.

International Seaways Price Performance

The stock has a fifty day moving average of $52.78 and a 200-day moving average of $49.83. The firm has a market capitalization of $2.72 billion, a P/E ratio of 4.92 and a beta of -0.05. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million during the quarter, compared to analysts' expectations of $239.36 million. Equities analysts predict that International Seaways, Inc. will post 9.33 EPS for the current fiscal year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 8.64%. International Seaways's payout ratio is 4.27%.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the transaction, the chief financial officer now directly owns 69,010 shares in the company, valued at $3,684,443.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the sale, the chief financial officer now directly owns 69,010 shares in the company, valued at approximately $3,684,443.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,846 shares of company stock valued at $3,073,978. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INSW. SG Americas Securities LLC acquired a new position in shares of International Seaways during the 3rd quarter worth approximately $224,000. Raymond James & Associates bought a new stake in International Seaways during the third quarter worth $274,000. Baker Ellis Asset Management LLC bought a new stake in International Seaways during the third quarter worth $220,000. Guyasuta Investment Advisors Inc. acquired a new stake in International Seaways in the third quarter valued at $310,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of International Seaways by 34.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,535 shares of the transportation company's stock valued at $294,000 after acquiring an additional 1,683 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

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.