International Seaways (NYSE:INSW) Sets New 1-Year High at $57.07

International Seaways, Inc. (NYSE:INSW)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $57.07 and last traded at $56.63, with a volume of 64783 shares traded. The stock had previously closed at $56.17.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Stifel Nicolaus raised their price objective on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.

International Seaways Price Performance

The firm has a market capitalization of $2.76 billion, a PE ratio of 4.99 and a beta of -0.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. The business’s 50 day moving average is $53.16 and its two-hundred day moving average is $50.17.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. As a group, research analysts anticipate that International Seaways, Inc. will post 9.33 EPS for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 8.52%. The ex-dividend date of this dividend was Wednesday, March 13th. International Seaways’s payout ratio is currently 4.27%.

Insider Transactions at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares in the company, valued at $4,361,927.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other International Seaways news, CEO Lois K. Zabrocky sold 16,240 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.02, for a total value of $844,804.80. Following the sale, the chief executive officer now owns 136,260 shares of the company’s stock, valued at approximately $7,088,245.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.09, for a total transaction of $53,090.00. Following the transaction, the chief financial officer now directly owns 82,161 shares of the company’s stock, valued at $4,361,927.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,846 shares of company stock worth $3,074,618. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INSW. SG Americas Securities LLC purchased a new stake in International Seaways in the third quarter worth about $224,000. Raymond James & Associates purchased a new position in International Seaways during the third quarter valued at $274,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of International Seaways by 34.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,535 shares of the transportation company’s stock valued at $294,000 after buying an additional 1,683 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of International Seaways by 204.7% during the 3rd quarter. Mackenzie Financial Corp now owns 35,228 shares of the transportation company’s stock valued at $1,509,000 after buying an additional 23,667 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of International Seaways by 126.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 145,638 shares of the transportation company’s stock worth $6,554,000 after buying an additional 81,377 shares during the period. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

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.