Lois Zabrocky Sells 2,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSWGet Free Report) CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the sale, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at approximately $17,103,457.80. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Trading Up 0.9%

NYSE INSW opened at $99.66 on Thursday. International Seaways Inc. has a 12 month low of $41.76 and a 12 month high of $100.50. The stock has a 50-day simple moving average of $88.32 and a 200 day simple moving average of $79.41. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $4.94 billion, a PE ratio of 6.37 and a beta of -0.13.

International Seaways (NYSE:INSWGet Free Report) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. During the same quarter in the previous year, the business earned $1.02 EPS. The firm’s revenue was up 138.9% on a year-over-year basis. Research analysts forecast that International Seaways Inc. will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $5.05 per share. This is a boost from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 10th. This represents a $20.20 annualized dividend and a dividend yield of 20.3%. International Seaways’s dividend payout ratio (DPR) is presently 3.07%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INSW shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Pareto Securities cut shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Jefferies Financial Group increased their target price on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, BTIG Research upped their price objective on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $88.00.

Read Our Latest Report on International Seaways

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in shares of International Seaways during the 2nd quarter worth approximately $28,000. Allworth Financial LP acquired a new position in International Seaways during the second quarter worth $48,000. First Horizon Corp lifted its stake in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in International Seaways in the second quarter valued at $66,000. Finally, Leonteq Securities AG bought a new position in shares of International Seaways in the 4th quarter valued at about $44,000. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Company Profile

(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.

See Also

Insider Buying and Selling by Quarter for International Seaways (NYSE:INSW)

Receive News & Ratings for International Seaways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Seaways and related companies with MarketBeat.com's FREE daily email newsletter.