William F. Nugent Sells 1,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $32.63, for a total value of $32,630.00. Following the completion of the transaction, the senior vice president now owns 56,846 shares of the company’s stock, valued at $1,854,884.98. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

International Seaways Stock Performance

International Seaways stock opened at $33.09 on Thursday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 3.20 and a beta of -0.01. International Seaways, Inc. has a 12 month low of $31.70 and a 12 month high of $65.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The stock’s 50-day moving average is $36.04 and its 200-day moving average is $40.39.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.45%. International Seaways’s payout ratio is 5.72%.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently bought and sold shares of the business. 111 Capital purchased a new position in shares of International Seaways in the 4th quarter valued at $293,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in International Seaways by 89.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,919 shares of the transportation company’s stock valued at $3,950,000 after purchasing an additional 51,884 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in International Seaways by 445.5% in the 4th quarter. Voloridge Investment Management LLC now owns 180,566 shares of the transportation company’s stock valued at $6,490,000 after purchasing an additional 147,468 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of International Seaways by 85.5% during the fourth quarter. Vident Advisory LLC now owns 21,947 shares of the transportation company’s stock worth $789,000 after purchasing an additional 10,113 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of International Seaways by 68.1% in the fourth quarter. Squarepoint Ops LLC now owns 118,452 shares of the transportation company’s stock worth $4,257,000 after buying an additional 48,006 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INSW. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group restated a “buy” rating and issued a $58.00 target price on shares of International Seaways in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Seaways has an average rating of “Moderate Buy” and a consensus target price of $57.50.

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.