International Seaways (NYSE:INSW) Reaches New 52-Week High – Here’s Why

International Seaways Inc. (NYSE:INSW)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $60.83 and last traded at $60.38, with a volume of 412675 shares trading hands. The stock had previously closed at $59.65.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 20th. Wall Street Zen upgraded International Seaways from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.33.

International Seaways Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The company has a 50-day moving average of $52.38 and a 200-day moving average of $48.45. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 13.75 and a beta of -0.19.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.24. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The company had revenue of $196.39 million during the quarter, compared to the consensus estimate of $180.92 million. During the same quarter last year, the business posted $1.57 earnings per share. International Seaways’s revenue was down 12.8% compared to the same quarter last year. As a group, equities research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is currently 10.93%.

Insider Activity

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.56, for a total value of $97,120.00. Following the transaction, the chief executive officer directly owned 182,421 shares in the company, valued at approximately $8,858,363.76. This represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James D. Small III sold 20,000 shares of International Seaways stock in a transaction dated 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 sale, the chief accounting officer owned 49,292 shares of the company’s stock, valued at approximately $2,642,051.20. This trade represents a 28.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 32,500 shares of company stock worth $1,732,605. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its stake in shares of International Seaways by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock worth $572,000 after purchasing an additional 206 shares during the period. Evergreen Capital Management LLC grew its position in shares of International Seaways by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock valued at $453,000 after purchasing an additional 274 shares during the period. Blue Trust Inc. increased its stake in International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 289 shares during the last quarter. Founders Capital Management increased its stake in International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in International Seaways by 8.6% during the fourth quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock worth $212,000 after buying an additional 344 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

International Seaways Company Profile

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.