International Seaways (NYSE:INSW) Shares Down 5% Following Insider Selling

International Seaways, Inc. (NYSE:INSW)’s share price was down 5% on Thursday following insider selling activity. The stock traded as low as $39.54 and last traded at $39.53. Approximately 746,184 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 989,218 shares. The stock had previously closed at $41.61.

Specifically, CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, January 15th. The stock was sold at an average price of $41.28, for a total transaction of $82,560.00. Following the sale, the chief executive officer now owns 147,045 shares in the company, valued at $6,070,017.60. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

INSW has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and decreased their target price for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

International Seaways Stock Down 2.3 %

The stock has a fifty day moving average of $38.14 and a two-hundred day moving average of $46.69. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 3.72 and a beta of -0.10.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.15. The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. As a group, analysts predict that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.32 dividend. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.72%. International Seaways’s dividend payout ratio (DPR) is 4.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of International Seaways by 4.3% during the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after acquiring an additional 38,871 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in International Seaways during the 3rd quarter valued at approximately $2,161,000. Charles Schwab Investment Management Inc. increased its holdings in International Seaways by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares during the last quarter. Barclays PLC increased its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the last quarter. Finally, FMR LLC raised its position in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock valued at $31,050,000 after purchasing an additional 414,610 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

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.