Insider Selling: International Seaways, Inc. (NYSE:INSW) Director Sells 5,035 Shares of Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) Director Joseph Isaac Kronsberg sold 5,035 shares of the business's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $62.30, for a total value of $313,680.50. Following the transaction, the director now owns 6,725 shares of the company's stock, valued at $418,967.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Seaways Stock Down 0.3 %

INSW traded down $0.18 during trading on Friday, reaching $63.32. The company had a trading volume of 305,714 shares, compared to its average volume of 561,809. The company has a market cap of $3.13 billion, a P/E ratio of 5.93 and a beta of -0.05. International Seaways, Inc. has a 12 month low of $34.77 and a 12 month high of $63.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.73 and a quick ratio of 2.72. The business's fifty day moving average price is $54.65 and its 200 day moving average price is $51.01.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.38 by $0.54. The business had revenue of $274.40 million for the quarter, compared to analysts' expectations of $249.12 million. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The firm's revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.30 EPS. Equities analysts anticipate that International Seaways, Inc. will post 10.07 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $1.75 per share. This is a boost from International Seaways's previous quarterly dividend of $1.20. This represents a $7.00 annualized dividend and a dividend yield of 11.05%. The ex-dividend date of this dividend is Wednesday, June 12th. International Seaways's dividend payout ratio is currently 4.49%.

Institutional Investors Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently bought and sold shares of INSW. Tidal Investments LLC boosted its position in International Seaways by 20.6% during the 1st quarter. Tidal Investments LLC now owns 36,097 shares of the transportation company's stock worth $1,920,000 after acquiring an additional 6,166 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of International Seaways by 36.0% in the first quarter. Janus Henderson Group PLC now owns 21,909 shares of the transportation company's stock worth $1,165,000 after purchasing an additional 5,802 shares in the last quarter. BTG Pactual Global Asset Management Ltd boosted its holdings in International Seaways by 49.7% during the first quarter. BTG Pactual Global Asset Management Ltd now owns 23,344 shares of the transportation company's stock worth $1,242,000 after purchasing an additional 7,754 shares during the last quarter. Paloma Partners Management Co bought a new position in International Seaways in the first quarter valued at $594,000. Finally, Aristides Capital LLC acquired a new stake in International Seaways in the 1st quarter valued at $256,000. Institutional investors and hedge funds own 67.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on INSW shares. Stifel Nicolaus lifted their price objective on shares of International Seaways from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, May 9th. StockNews.com raised shares of International Seaways from a "hold" rating to a "buy" rating in a research report on Thursday, May 9th. Jefferies Financial Group restated a "buy" rating and issued a $66.00 price objective on shares of International Seaways in a research report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on International Seaways from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, May 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $63.25.

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.

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