International Seaways, Inc. (NYSE:INSW) CFO Sells $58,830.00 in Stock

International Seaways, Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $58.83, for a total value of $58,830.00. Following the completion of the sale, the chief financial officer now directly owns 39,849 shares of the company’s stock, valued at $2,344,316.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Jeffrey Pribor also recently made the following trade(s):

• On Friday, June 7th, Jeffrey Pribor sold 35,000 shares of International Seaways stock. The shares were sold at an average price of $62.37, for a total value of $2,182,950.00.
• On Wednesday, May 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $54.87, for a total value of $54,870.00.

International Seaways Price Performance

Shares of INSW opened at $60.22 on Thursday. The stock has a market capitalization of $2.97 billion, a P/E ratio of 5.63 and a beta of -0.06. International Seaways, Inc. has a twelve month low of $35.51 and a twelve month high of $65.94. The company has a 50 day moving average of $60.29 and a 200-day moving average of $54.54. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.31.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.54. The company had revenue of $274.40 million during 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 business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $3.30 EPS. As a group, equities research analysts forecast that International Seaways, Inc. will post 10.3 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 11.62%. The ex-dividend date was Wednesday, June 12th. This is an increase from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio is presently 4.49%.

Institutional Investors Weigh In On International Seaways

Several large investors have recently made changes to their positions in INSW. UBS Group AG boosted its holdings in shares of International Seaways by 9.2% in the 3rd quarter. UBS Group AG now owns 57,124 shares of the transportation company’s stock valued at $2,571,000 after buying an additional 4,830 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 valued at $1,889,000 after purchasing an additional 21,320 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in International Seaways by 103.9% during the 3rd 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. Alps Advisors Inc. lifted its holdings in International Seaways by 119.6% during the 3rd quarter. Alps Advisors Inc. now owns 14,689 shares of the transportation company’s stock valued at $616,000 after purchasing an additional 7,999 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in International Seaways by 106.0% during the 3rd quarter. GSA Capital Partners LLP now owns 30,079 shares of the transportation company’s stock valued at $1,354,000 after purchasing an additional 15,478 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on INSW shares. StockNews.com raised International Seaways from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft increased their target price on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus increased their target price on International Seaways from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $63.75.

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.