International Seaways Inc. (INSW) To Go Ex-Dividend on September 10th

International Seaways Inc. (NYSE:INSW) announced a quarterly dividend on Friday, August 7th. Investors of record on Thursday, September 10th will be paid a dividend of 5.05 per share by the transportation company on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 19.4%. The ex-dividend date of this dividend is Thursday, September 10th. This is a 4,108.3% increase from International Seaways’s previous quarterly dividend of $0.12.

International Seaways has raised its dividend by an average of 0.6%per year over the last three years. International Seaways has a payout ratio of 350.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect International Seaways to earn $11.25 per share next year, which means the company may not be able to cover its $20.20 annual dividend with an expected future payout ratio of 179.6%.

International Seaways Price Performance

Shares of NYSE:INSW opened at $104.26 on Tuesday. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.27 and a beta of -0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The firm has a 50 day simple moving average of $92.65 and a 200 day simple moving average of $82.94. International Seaways has a one year low of $42.26 and a one year high of $105.50.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The firm had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company’s revenue was up 138.9% on a year-over-year basis. Research analysts predict that International Seaways will post 16.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lois Zabrocky sold 2,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the transaction, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. This trade represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were 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 owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,000 shares of company stock valued at $441,240 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

Several large investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after buying an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of International Seaways by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after acquiring an additional 900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of International Seaways by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after acquiring an additional 18,509 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of International Seaways in the 2nd quarter valued at about $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of International Seaways during the 2nd quarter valued at about $1,626,000. 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.