Insider Selling: International Seaways (NYSE:INSW) SVP Sells 6,830 Shares of Stock

International Seaways Inc. (NYSE:INSW) SVP William Nugent sold 6,830 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.23, for a total value of $582,120.90. Following the completion of the transaction, the senior vice president directly owned 49,169 shares of the company’s stock, valued at approximately $4,190,673.87. The trade was a 12.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

International Seaways Price Performance

INSW traded down $0.94 on Friday, reaching $84.57. The stock had a trading volume of 584,165 shares, compared to its average volume of 591,271. International Seaways Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $92.66. The firm has a 50-day moving average of $76.11 and a 200-day moving average of $62.72. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 7.70 and a beta of -0.09.

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

International Seaways Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on INSW shares. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Zacks Research lowered International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft upped their price target on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, International Seaways has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INSW. Royal Bank of Canada boosted its holdings in International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock worth $311,000 after acquiring an additional 2,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in International Seaways by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after acquiring an additional 900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in International Seaways by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after acquiring an additional 18,509 shares in the last quarter. Prudential Financial Inc. bought a new position in International Seaways in the second quarter worth approximately $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in International Seaways in the second quarter worth approximately $1,626,000. 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.