Insider Selling: International Seaways (NYSE:INSW) CEO Sells 2,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Friday, May 15th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the transaction, the chief executive officer owned 179,745 shares of the company’s stock, valued at $15,139,921.35. The trade was a 1.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

International Seaways Stock Up 1.0%

Shares of INSW stock traded up $0.82 during mid-day trading on Monday, hitting $85.40. The company’s stock had a trading volume of 454,696 shares, compared to its average volume of 595,545. International Seaways Inc. has a 52-week low of $35.60 and a 52-week high of $92.66. The business has a 50-day moving average price of $76.55 and a 200 day moving average price of $63.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. Research analysts predict that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s payout ratio is currently 4.37%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on INSW shares. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price target on shares of International Seaways in a report on Friday, May 8th. Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their target price on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.50.

Institutional Trading of International Seaways

Institutional investors have recently made changes to their positions in the company. First Horizon Corp increased its position in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after acquiring an additional 377 shares during the period. Federated Hermes Inc. raised its position in 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. Leonteq Securities AG acquired a new stake in shares of International Seaways during the 4th quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of International Seaways in the 4th quarter worth about $46,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.