James Small III Sells 20,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CAO James Small III sold 20,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $53.60, for a total transaction of $1,072,000.00. Following the completion of the sale, the chief accounting officer owned 49,292 shares of the company’s stock, valued at approximately $2,642,051.20. The trade was a 28.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Stock Up 2.0%

INSW opened at $54.68 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $48.32 and its 200 day moving average is $43.01. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $54.95. The firm has a market capitalization of $2.70 billion, a P/E ratio of 11.37 and a beta of -0.02.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share (EPS) for the quarter. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The firm had revenue of $84.82 million during the quarter. Research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is 10.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INSW. Arizona State Retirement System raised its stake in shares of International Seaways by 3.9% during the 1st quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 455 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in International Seaways in the 2nd quarter worth about $273,000. PNC Financial Services Group Inc. grew its holdings in International Seaways by 550.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after buying an additional 1,542 shares in the last quarter. HighTower Advisors LLC increased its position in shares of International Seaways by 42.5% during the first quarter. HighTower Advisors LLC now owns 38,308 shares of the transportation company’s stock valued at $1,272,000 after buying an additional 11,430 shares during the period. Finally, Denali Advisors LLC increased its position in shares of International Seaways by 61.9% during the second quarter. Denali Advisors LLC now owns 25,100 shares of the transportation company’s stock valued at $916,000 after buying an additional 9,600 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INSW shares. BTIG Research reduced their price objective on International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.67.

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.