International Seaways Inc. (NYSE:INSW) CEO Sells $77,480.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $38.74, for a total value of $77,480.00. Following the sale, the chief executive officer now directly owns 194,771 shares in the company, valued at approximately $7,545,428.54. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

International Seaways Stock Up 4.4%

INSW opened at $40.57 on Wednesday. The company has a market capitalization of $2.00 billion, a P/E ratio of 6.27 and a beta of 0.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75. The firm’s fifty day moving average price is $35.99 and its two-hundred day moving average price is $36.00. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $60.99.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.21. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The company had revenue of $178.34 million during the quarter, compared to the consensus estimate of $176.49 million. During the same period last year, the firm earned $2.92 EPS. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. On average, analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, June 12th. International Seaways’s dividend payout ratio is 7.42%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of International Seaways in a research report on Thursday, May 8th.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently added to or reduced their stakes in INSW. Pacer Advisors Inc. acquired a new stake in shares of International Seaways in the 1st quarter valued at $17,331,000. Bridgeway Capital Management LLC bought a new position in International Seaways during the 4th quarter valued at about $14,269,000. Vanguard Group Inc. boosted its position in International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock valued at $171,043,000 after buying an additional 369,145 shares in the last quarter. Clearbridge Investments LLC acquired a new position in International Seaways in the fourth quarter valued at about $11,374,000. Finally, Encompass Capital Advisors LLC bought a new stake in International Seaways during the first quarter worth about $9,957,000. 67.29% of the stock is owned by institutional investors and hedge funds.

About International Seaways

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.