Insider Selling: International Seaways (NYSE:INSW) CFO Sells 1,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $48.27, for a total value of $48,270.00. Following the completion of the transaction, the chief financial officer directly owned 63,502 shares in the company, valued at approximately $3,065,241.54. This trade represents a 1.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 22nd, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $44.69, for a total value of $44,690.00.

International Seaways Stock Down 1.4%

Shares of NYSE INSW opened at $48.41 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.39 billion, a PE ratio of 10.06 and a beta of 0.08. The stock’s fifty day simple moving average is $42.80 and its two-hundred day simple moving average is $38.07. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $54.84.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.11. The business had revenue of $188.82 million for the quarter, compared to analysts’ expectations of $199.06 million. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The business’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.37 EPS. As a group, analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways’s dividend payout ratio (DPR) is 9.98%.

Institutional Trading of International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in INSW. Ameriprise Financial Inc. lifted its holdings in shares of International Seaways by 64.6% during the 4th quarter. Ameriprise Financial Inc. now owns 163,569 shares of the transportation company’s stock valued at $5,879,000 after purchasing an additional 64,167 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of International Seaways by 76.0% during the 4th quarter. BNP Paribas Financial Markets now owns 25,617 shares of the transportation company’s stock valued at $921,000 after purchasing an additional 11,064 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of International Seaways by 46.2% during the 4th quarter. Deutsche Bank AG now owns 34,974 shares of the transportation company’s stock valued at $1,257,000 after purchasing an additional 11,050 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of International Seaways by 50.9% during the 4th quarter. Janus Henderson Group PLC now owns 90,716 shares of the transportation company’s stock valued at $3,259,000 after purchasing an additional 30,609 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of International Seaways by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,189 shares of the transportation company’s stock valued at $833,000 after purchasing an additional 1,070 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analysts Set New Price Targets

Separately, BTIG Research dropped their target price on International Seaways from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, International Seaways presently has an average rating of “Buy” and a consensus target price of $53.50.

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.