William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW - Get Free Report) SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction on Friday, May 30th. The stock was sold at an average price of $37.13, for a total transaction of $37,130.00. Following the transaction, the senior vice president now directly owns 60,752 shares in the company, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website.

International Seaways Price Performance

Shares of INSW traded down $0.16 during midday trading on Thursday, hitting $37.84. 183,650 shares of the company traded hands, compared to its average volume of 746,962. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock has a 50-day moving average of $34.74 and a 200-day moving average of $36.19. The firm has a market cap of $1.87 billion, a P/E ratio of 3.66 and a beta of -0.01. International Seaways, Inc. has a one year low of $27.20 and a one year high of $63.50.

International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. The business had revenue of $178.34 million during the quarter, compared to analyst estimates of $176.49 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. International Seaways's revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 earnings per share. As a group, sell-side analysts predict that International Seaways, Inc. will post 7.77 EPS 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. Shareholders of record on Thursday, June 12th will be issued a $0.12 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. International Seaways's dividend payout ratio (DPR) is 7.42%.

Hedge Funds Weigh In On International Seaways

Several institutional investors and hedge funds have recently modified their holdings of the stock. Glenorchy Capital Ltd boosted its position in International Seaways by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock worth $1,809,000 after purchasing an additional 322 shares during the last quarter. Bfsg LLC boosted its position in International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock worth $99,000 after purchasing an additional 357 shares during the last quarter. Farther Finance Advisors LLC boosted its position in International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock worth $375,000 after purchasing an additional 360 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in International Seaways by 2.8% in the first quarter. SummerHaven Investment Management LLC now owns 13,759 shares of the transportation company's stock worth $457,000 after purchasing an additional 370 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company's stock valued at $398,000 after buying an additional 455 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price target on shares of International Seaways in a report 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.