International Seaways, Inc. (NYSE:INSW) SVP Sells $43,050.00 in Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total value of $43,050.00. Following the completion of the transaction, the senior vice president now owns 51,803 shares of the company’s stock, valued at $2,230,119.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

International Seaways Price Performance

Shares of International Seaways stock opened at $43.57 on Monday. The business’s fifty day moving average price is $49.75 and its 200 day moving average price is $54.62. International Seaways, Inc. has a twelve month low of $42.08 and a twelve month high of $65.94. The company has a current ratio of 3.89, a quick ratio of 3.87 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.16 billion, a P/E ratio of 4.15 and a beta of -0.06.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The firm had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 EPS. As a group, research analysts anticipate that International Seaways, Inc. will post 8.5 earnings per share for the current year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s payout ratio is currently 4.57%.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in International Seaways by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock valued at $168,279,000 after purchasing an additional 119,000 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of International Seaways by 261.7% in the first quarter. Commonwealth Equity Services LLC now owns 17,179 shares of the transportation company’s stock valued at $914,000 after buying an additional 12,429 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of International Seaways by 28.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,485 shares of the transportation company’s stock valued at $1,303,000 after buying an additional 5,469 shares during the period. Peterson Wealth Services lifted its position in International Seaways by 188.8% during the 1st quarter. Peterson Wealth Services now owns 12,859 shares of the transportation company’s stock worth $684,000 after acquiring an additional 8,406 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in International Seaways by 101.5% in the 1st quarter. BNP Paribas Financial Markets now owns 34,543 shares of the transportation company’s stock worth $1,838,000 after acquiring an additional 17,399 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and cut their price objective for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

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.