Insider Selling: International Seaways (NYSE:INSW) CEO Sells $135,580.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $67.79, for a total transaction of $135,580.00. Following the sale, the chief executive officer owned 208,745 shares in the company, valued at approximately $14,150,823.55. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Stock Performance

INSW stock opened at $71.55 on Friday. The company has a 50-day simple moving average of $64.09 and a 200 day simple moving average of $54.23. The company has a market capitalization of $3.53 billion, a P/E ratio of 11.48 and a beta of -0.23. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $78.51.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.75 by $0.70. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm had revenue of $267.88 million for the quarter, compared to analysts’ expectations of $245.29 million. During the same quarter last year, the company earned $0.90 EPS. International Seaways’s quarterly revenue was up 37.7% on a year-over-year basis. Sell-side analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is currently 7.70%.

Wall Street Analysts Forecast Growth

INSW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. BTIG Research raised their target price on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised International Seaways from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, International Seaways has an average rating of “Buy” and a consensus price target of $68.00.

Institutional Trading of International Seaways

Large investors have recently added to or reduced their stakes in the business. Amundi acquired a new stake in shares of International Seaways during the 4th quarter valued at $13,663,000. Donald Smith & CO. Inc. boosted its stake in shares of International Seaways by 43.9% during the 2nd quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after acquiring an additional 216,325 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of International Seaways by 4,255.3% in the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock worth $9,095,000 after acquiring an additional 192,848 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of International Seaways by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock worth $67,674,000 after acquiring an additional 159,125 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of International Seaways during the fourth quarter worth $7,087,000. 67.29% of the stock is currently owned by institutional investors.

About International Seaways

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.