International Seaways, Inc. (NYSE:INSW) Director Alexandra Kate Blankenship Sells 5,000 Shares

International Seaways, Inc. (NYSE:INSW) Director Alexandra Kate Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the transaction, the director now owns 16,109 shares in the company, valued at $792,079.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

International Seaways Price Performance

Shares of NYSE:INSW opened at $49.32 on Friday. The company has a quick ratio of 3.87, a current ratio of 3.89 and a debt-to-equity ratio of 0.35. International Seaways, Inc. has a twelve month low of $40.68 and a twelve month high of $65.94. The stock’s 50 day moving average is $52.45 and its 200-day moving average is $55.38. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 4.61 and a beta of -0.07.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). International Seaways had a return on equity of 26.55% and a net margin of 50.70%. The firm had revenue of $257.40 million for the quarter, compared to analyst estimates of $256.13 million. During the same period in the previous year, the company earned $3.12 earnings per share. International Seaways’s revenue for the quarter was down 11.9% compared to the same quarter last year. Sell-side analysts forecast that International Seaways, Inc. will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, September 11th. International Seaways’s payout ratio is currently 4.49%.

Institutional Investors Weigh In On International Seaways

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd purchased a new stake in International Seaways in the 2nd quarter valued at $742,000. Point72 Asset Management L.P. raised its position in International Seaways by 75.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 8,600 shares of the transportation company’s stock valued at $509,000 after buying an additional 3,700 shares during the last quarter. Quarry LP raised its position in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,167 shares during the last quarter. Creative Planning purchased a new stake in International Seaways in the 2nd quarter valued at $313,000. Finally, Algert Global LLC raised its position in International Seaways by 919.8% in the 2nd quarter. Algert Global LLC now owns 60,269 shares of the transportation company’s stock valued at $3,564,000 after buying an additional 54,359 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.