International Seaways (NYSE:INSW) CEO Sells $162,680.00 in Stock

by · The Cerbat Gem

International Seaways Inc. (NYSE:INSW – Get Free Report) CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the completion of the sale, the chief executive officer directly owned 177,745 shares in the company, valued at $14,457,778.30. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Stock Performance

INSW traded down $0.46 during midday trading on Wednesday, reaching $81.51. The company’s stock had a trading volume of 392,080 shares, compared to its average volume of 575,744. The stock has a market cap of $4.04 billion, a P/E ratio of 7.42 and a beta of -0.12. The company has a fifty day simple moving average of $80.91 and a 200 day simple moving average of $67.47. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a twelve month low of $36.03 and a twelve month high of $92.66.

International Seaways (NYSE:INSW – Get Free Report) last released its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The firm had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 77.5% on a year-over-year basis. Research analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on INSW shares. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft raised their target price on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. BTIG Research raised their target price on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $83.50.

View Our Latest Report on INSW

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Corp raised its position in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after acquiring an additional 377 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of International Seaways during the fourth quarter worth $46,000. Rockefeller Capital Management L.P. raised its position in shares of International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after acquiring an additional 822 shares during the last quarter. Finally, Founders Capital Management raised its position in shares of International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

About International Seaways

(Get Free Report)

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.

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