International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 2,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.56, for a total transaction of $97,120.00. Following the sale, the chief executive officer directly owned 182,421 shares in the company, valued at approximately $8,858,363.76. The trade was a 1.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

International Seaways Stock Performance

Shares of INSW traded down $1.04 during mid-day trading on Thursday, hitting $48.07. 27,858 shares of the company traded hands, compared to its average volume of 674,731. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50-day moving average price of $50.19 and a two-hundred day moving average price of $45.02. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $55.18. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 10.96 and a beta of -0.20.

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

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.0%. International Seaways’s payout ratio is presently 10.93%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. increased its holdings in International Seaways by 99.5% in the 3rd 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. Advisory Services Network LLC purchased a new position in International Seaways during the third quarter valued at approximately $53,000. EverSource Wealth Advisors LLC boosted its position in shares of International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after purchasing an additional 1,293 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of International Seaways by 550.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of International Seaways during the 3rd quarter valued at $64,000. 67.29% of the stock is 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.