International Seaways (NYSE:INSW) Trading Up 1.4%

International Seaways, Inc. (NYSE:INSW - Get Free Report)'s share price shot up 1.4% during trading on Wednesday . The stock traded as high as $52.17 and last traded at $52.06. Approximately 46,325 shares changed hands during trading, a decline of 91% from the average session volume of 538,153 shares. The stock had previously closed at $51.33.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. 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. StockNews.com upgraded International Seaways from a "hold" rating to a "buy" rating in a research report on Saturday.

International Seaways Price Performance

The firm has a market capitalization of $2.57 billion, a P/E ratio of 4.66 and a beta of -0.05. The business's fifty day moving average is $52.51 and its 200 day moving average is $48.99. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.10. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. As a group, analysts forecast that International Seaways, Inc. will post 9.36 EPS for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 9.16%. International Seaways's payout ratio is presently 4.27%.

Insiders Place Their Bets

In related news, Director Douglas D. Wheat sold 3,846 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now owns 26,056 shares in the company, valued at approximately $1,334,588.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares of the company's stock, valued at approximately $1,334,588.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares of the company's stock, valued at $4,117,521.21. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock worth $3,073,978 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of International Seaways during the 1st quarter worth about $203,000. Vanguard Group Inc. increased its holdings in International Seaways by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company's stock worth $168,279,000 after buying an additional 119,000 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in International Seaways by 57.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company's stock worth $18,367,000 after buying an additional 147,740 shares during the last quarter. Cim LLC bought a new position in International Seaways during the fourth quarter valued at approximately $192,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in International Seaways by 29.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,598 shares of the transportation company's stock valued at $346,000 after acquiring an additional 1,725 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company's stock.

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.