Jeffrey Pribor Sells 1,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the sale, the chief financial officer directly owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Jeffrey Pribor also recently made the following trade(s):

• On Friday, May 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $83.72, for a total value of $83,720.00.
• On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $74.50, for a total value of $74,500.00.

International Seaways Stock Down 0.6%

Shares of International Seaways stock traded down $0.46 during midday trading on Wednesday, hitting $81.51. The company’s stock had a trading volume of 392,080 shares, compared to its average volume of 575,744. The firm has a market capitalization of $4.04 billion, a P/E ratio of 7.42 and a beta of -0.12. International Seaways Inc. has a 1-year low of $36.03 and a 1-year high of $92.66. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $80.91 and a 200-day simple moving average of $67.47.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analysts’ expectations of $279.34 million. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The business’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, sell-side analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on INSW. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. BTIG Research lifted their price objective on International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, International Seaways presently has a consensus rating of “Buy” and an average target price of $83.50.

Hedge Funds Weigh In On International Seaways

A number of institutional investors have recently made changes to their positions in INSW. First Horizon Corp increased its stake in shares of International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares during the period. Leonteq Securities AG bought a new position in shares of International Seaways in the fourth quarter worth about $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways in the fourth quarter worth about $46,000. Rockefeller Capital Management L.P. increased its stake in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares during the period. Finally, Founders Capital Management increased its stake in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after purchasing an additional 300 shares during the period. 67.29% of the stock is currently owned by institutional investors.

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.