International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky Sells 2,000 Shares

by · The Cerbat Gem

International Seaways, Inc. (NYSE:INSW – Get Free Report) CEO Lois K. Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 15th. The stock was sold at an average price of $41.28, for a total transaction of $82,560.00. Following the sale, the chief executive officer now owns 147,045 shares of the company’s stock, valued at $6,070,017.60. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

International Seaways Price Performance

INSW opened at $39.39 on Friday. The stock has a fifty day moving average of $38.23 and a 200-day moving average of $46.84. The firm has a market capitalization of $1.94 billion, a P/E ratio of 3.81 and a beta of -0.10. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the prior year, the business earned $1.99 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts forecast that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.32 per share. The ex-dividend date was Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 13.41%. International Seaways’s payout ratio is presently 4.64%.

Wall Street Analysts Forecast Growth

INSW has been the subject of several research reports. Jefferies Financial Group reduced their price objective on International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and decreased their price target for the company from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.67.

Read Our Latest Stock Analysis on INSW

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INSW. Principal Financial Group Inc. grew its holdings in shares of International Seaways by 27.3% during the 3rd quarter. Principal Financial Group Inc. now owns 28,583 shares of the transportation company’s stock valued at $1,474,000 after acquiring an additional 6,121 shares in the last quarter. Franklin Resources Inc. grew its stake in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after purchasing an additional 379 shares in the last quarter. Hohimer Wealth Management LLC acquired a new position in International Seaways in the 3rd quarter worth about $240,000. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the 3rd quarter worth about $52,000. Finally, Geode Capital Management LLC lifted its holdings in shares of International Seaways by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock valued at $48,650,000 after buying an additional 38,871 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

(Get Free Report)

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.

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