Derek Solon Sells 4,700 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) SVP Derek Solon sold 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.22, for a total transaction of $419,334.00. Following the sale, the senior vice president owned 49,719 shares of the company’s stock, valued at approximately $4,435,929.18. The trade was a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

International Seaways Trading Up 0.1%

Shares of INSW stock opened at $85.40 on Friday. The company has a 50 day moving average of $76.11 and a 200-day moving average of $62.72. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12-month low of $35.60 and a 12-month high of $92.66. The firm has a market cap of $4.23 billion, a P/E ratio of 7.78 and a beta of -0.09.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The company had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. During the same quarter last year, the business posted $0.80 EPS. International Seaways’s quarterly revenue was up 77.5% compared to the same quarter last year. Sell-side analysts anticipate that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s payout ratio is currently 4.37%.

Institutional Trading of International Seaways

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in International Seaways by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after purchasing an additional 52,743 shares during the last quarter. American Century Companies Inc. lifted its stake in International Seaways by 7.5% in the third quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock worth $91,929,000 after purchasing an additional 139,868 shares during the last quarter. Geode Capital Management LLC lifted its stake in International Seaways by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after purchasing an additional 4,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Seaways by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after purchasing an additional 12,188 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in International Seaways by 167.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after purchasing an additional 380,931 shares during the last quarter. 67.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INSW. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a research note on Friday, May 8th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, January 20th. Finally, Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

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.