International Seaways (NYSE:INSW) Hits New 1-Year High at $57.07

International Seaways, Inc. (NYSE:INSW - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $57.07 and last traded at $56.63, with a volume of 64783 shares changing hands. The stock had previously closed at $56.17.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group reiterated a "buy" rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Stifel Nicolaus boosted their price objective on International Seaways from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, April 19th. Finally, StockNews.com cut shares of International Seaways from a "buy" rating to a "hold" rating in a report on Saturday, April 27th.

International Seaways Stock Performance

The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The stock's 50 day moving average price is $53.24 and its two-hundred day moving average price is $50.25. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 5.01 and a beta of -0.05.

International Seaways (NYSE:INSW - Get Free Report) last posted its earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.10. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. The company had revenue of $250.73 million for the quarter, compared to the consensus estimate of $239.36 million. On average, analysts forecast that International Seaways, Inc. will post 9.33 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 8.52%. International Seaways's dividend payout ratio is currently 4.27%.

Insider Activity

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.09, for a total value of $53,090.00. Following the completion of the transaction, the chief financial officer now directly owns 82,161 shares in the company, valued at $4,361,927.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares in the company, valued at $4,361,927.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the sale, the director now owns 19,098 shares of the company's stock, valued at $1,013,912.82. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock worth $3,074,618 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently modified their holdings of INSW. International Assets Investment Management LLC purchased a new position in International Seaways in the fourth quarter valued at about $4,137,000. Qube Research & Technologies Ltd boosted its holdings in International Seaways by 103.9% in the third quarter. Qube Research & Technologies Ltd now owns 44,250 shares of the transportation company's stock valued at $1,991,000 after purchasing an additional 22,545 shares during the last quarter. Hosking Partners LLP boosted its holdings in International Seaways by 20.1% in the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company's stock valued at $43,404,000 after purchasing an additional 161,643 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in International Seaways by 103.2% during the 3rd quarter. Natixis Advisors L.P. now owns 41,973 shares of the transportation company's stock worth $1,889,000 after buying an additional 21,320 shares during the last quarter. Finally, Barclays PLC lifted its holdings in International Seaways by 160.9% during the 3rd quarter. Barclays PLC now owns 55,522 shares of the transportation company's stock worth $2,498,000 after buying an additional 34,242 shares during the last quarter. Institutional investors and hedge funds 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.