Insider Selling: International Seaways (NYSE:INSW) Major Shareholder Sells $8,105,866.05 in Stock

International Seaways Inc. (NYSE:INSW) major shareholder Finance Ltd Famatown sold 64,821 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $125.05, for a total transaction of $8,105,866.05. Following the sale, the insider owned 6,500,566 shares of the company’s stock, valued at approximately $812,895,778.30. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Finance Ltd Famatown also recently made the following trade(s):

• On Tuesday, October 13th, Finance Ltd Famatown sold 38,917 shares of International Seaways stock. The shares were sold at an average price of $122.06, for a total transaction of $4,750,209.02.
• On Friday, October 9th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $121.55, for a total value of $12,155,000.00.
• On Thursday, October 8th, Finance Ltd Famatown sold 200 shares of International Seaways stock. The stock was sold at an average price of $118.50, for a total value of $23,700.00.
• On Wednesday, October 7th, Finance Ltd Famatown sold 61,216 shares of International Seaways stock. The stock was sold at an average price of $117.08, for a total transaction of $7,167,169.28.
• On Tuesday, October 6th, Finance Ltd Famatown sold 66,738 shares of International Seaways stock. The shares were sold at an average price of $117.03, for a total value of $7,810,348.14.
• On Monday, October 5th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $114.97, for a total transaction of $11,497,000.00.
• On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The stock was sold at an average price of $111.82, for a total value of $11,405,640.00.
• On Monday, September 21st, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $111.09, for a total value of $11,109,000.00.
• On Friday, September 18th, Finance Ltd Famatown sold 15,136 shares of International Seaways stock. The shares were sold at an average price of $112.12, for a total value of $1,697,048.32.

International Seaways Stock Down 1.5%

NYSE:INSW opened at $111.94 on Friday. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.30 and a beta of -0.14. International Seaways Inc. has a 52-week low of $46.09 and a 52-week high of $126.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The stock’s fifty day moving average price is $108.47 and its two-hundred day moving average price is $85.47.

International Seaways (NYSE:INSW) last posted its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.36. The company had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. The company’s revenue for the quarter was up 138.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 EPS. On average, analysts anticipate that International Seaways Inc. will post 17.47 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a $5.05 dividend. This represents a $20.20 dividend on an annualized basis and a yield of 18.0%. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, September 10th. International Seaways’s payout ratio is 129.16%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings raised International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.00 price target on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research boosted their price objective on International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 18th. B. Riley Financial increased their price target on shares of International Seaways from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Finally, Jefferies Financial Group boosted their price objective on shares of International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, International Seaways currently has an average rating of “Buy” and a consensus price target of $109.80.

Institutional Investors Weigh In On International Seaways

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of International Seaways in the second quarter worth about $505,153,000. Dimensional Fund Advisors LP grew its position in shares of International Seaways by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,755 shares of the transportation company’s stock worth $220,436,000 after buying an additional 52,743 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after buying an additional 380,931 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of International Seaways during the second quarter valued at approximately $21,082,000. Finally, Empowered Funds LLC bought a new position in shares of International Seaways during the second quarter valued at approximately $19,711,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.

The company’s fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.

International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.