International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon Sells 1,000 Shares of Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.75, for a total transaction of $49,750.00. Following the completion of the sale, the senior vice president now directly owns 46,887 shares in the company, valued at $2,332,628.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

International Seaways Trading Up 0.4 %

Shares of NYSE:INSW opened at $49.32 on Friday. International Seaways, Inc. has a 12-month low of $40.68 and a 12-month high of $65.94. The business has a 50 day moving average of $52.45 and a 200-day moving average of $55.38. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.45 billion, a PE ratio of 4.61 and a beta of -0.07.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.13). The firm had revenue of $257.40 million during the quarter, compared to the consensus estimate of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.12 earnings per share. As a group, equities research analysts forecast that International Seaways, Inc. will post 9.51 earnings per share for the current year.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Analyst Ratings Changes

A number of equities analysts have weighed in on INSW shares. Stifel Nicolaus boosted their price target on International Seaways from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price target on shares of International Seaways in a research note on Wednesday, August 7th. Finally, StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, International Seaways currently has an average rating of “Moderate Buy” and an average price target of $64.75.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new position in International Seaways during the 1st quarter worth $27,000. EdgeRock Capital LLC acquired a new stake in shares of International Seaways during the 2nd quarter worth $28,000. Headlands Technologies LLC increased its position in shares of International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares during the period. Quarry LP raised its stake in International Seaways by 408.0% in the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 1,167 shares in the last quarter. Finally, CWM LLC lifted its position in International Seaways by 47.9% during the second quarter. CWM LLC now owns 1,470 shares of the transportation company’s stock worth $87,000 after purchasing an additional 476 shares during the period. 67.29% of the stock is owned by 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.