Insider Selling: International Seaways (NYSE:INSW) CFO Sells $48,260.00 in Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.26, for a total value of $48,260.00. Following the sale, the chief financial officer directly owned 75,242 shares in the company, valued at $3,631,178.92. The trade was a 1.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $53.58, for a total transaction of $53,580.00.
• On Wednesday, October 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $44.00, for a total transaction of $44,000.00.

International Seaways Trading Up 0.5%

Shares of NYSE:INSW opened at $48.38 on Friday. The company has a 50 day moving average of $50.35 and a 200-day moving average of $45.12. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.39 billion, a P/E ratio of 11.02 and a beta of -0.20. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $55.18.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) EPS for the quarter. The company had revenue of $84.82 million for the quarter. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. As a group, analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. International Seaways’s dividend payout ratio (DPR) is 10.93%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 9th. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Wall Street Zen cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.67.

Institutional Investors Weigh In On International Seaways

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System increased its stake in International Seaways by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock worth $572,000 after purchasing an additional 206 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of International Seaways by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock worth $453,000 after buying an additional 274 shares during the period. Blue Trust Inc. increased its position in shares of International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after acquiring an additional 289 shares in the last quarter. Federated Hermes Inc. increased its position in shares of International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of International Seaways by 3.4% during the third quarter. Amalgamated Bank now owns 11,956 shares of the transportation company’s stock valued at $551,000 after acquiring an additional 398 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.