International Seaways, Inc. (NYSE:INSW) SVP Sells $37,130.00 in Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) SVP William F. Nugent sold 1,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $37.13, for a total transaction of $37,130.00. Following the completion of the sale, the senior vice president now directly owns 60,752 shares in the company, valued at approximately $2,255,721.76. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

International Seaways Stock Down 0.8%

INSW traded down $0.32 during midday trading on Friday, hitting $37.34. The company had a trading volume of 637,047 shares, compared to its average volume of 750,429. The stock's 50 day moving average price is $34.91 and its 200 day moving average price is $36.13. International Seaways, Inc. has a 52 week low of $27.20 and a 52 week high of $62.54. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.61 and a beta of -0.01. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The business had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. During the same period in the previous year, the company posted $2.92 EPS. The firm's revenue was down 32.9% compared to the same quarter last year. On average, research analysts anticipate that International Seaways, Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 1.29%. International Seaways's dividend payout ratio is 7.42%.

Hedge Funds Weigh In On International Seaways

Institutional investors have recently modified their holdings of the company. Barclays PLC grew its position in International Seaways by 206.3% in the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after purchasing an additional 174,695 shares during the period. KBC Group NV lifted its stake in shares of International Seaways by 60.2% in the fourth quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock valued at $62,000 after buying an additional 653 shares in the last quarter. R Squared Ltd bought a new position in shares of International Seaways in the fourth quarter valued at $59,000. Guidance Capital Inc. bought a new position in shares of International Seaways in the fourth quarter valued at $458,000. Finally, Yousif Capital Management LLC bought a new position in shares of International Seaways in the fourth quarter valued at $563,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a research note on Thursday, May 8th.

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.