Insider Selling: International Seaways (NYSE:INSW) Director Sells 5,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) Director Alexandra Kate Blankenship sold 5,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $74.88, for a total transaction of $374,400.00. Following the completion of the transaction, the director directly owned 10,213 shares in the company, valued at approximately $764,749.44. This represents a 32.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Alexandra Kate Blankenship also recently made the following trade(s):

• On Monday, March 2nd, Alexandra Kate Blankenship sold 4,000 shares of International Seaways stock. The shares were sold at an average price of $75.69, for a total value of $302,760.00.

International Seaways Stock Down 3.4%

NYSE:INSW traded down $2.57 during mid-day trading on Tuesday, hitting $73.20. The company had a trading volume of 782,510 shares, compared to its average volume of 621,534. The business has a fifty day simple moving average of $60.94 and a 200-day simple moving average of $52.99. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 11.75 and a beta of -0.23. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $78.51. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.27.

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

International Seaways Dividend Announcement

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

Institutional Investors Weigh In On International Seaways

Several large investors have recently added to or reduced their stakes in INSW. Fearnley Asset Management AS bought a new position in International Seaways in the 4th quarter worth about $6,258,000. Invesco Ltd. boosted its position in shares of International Seaways by 27.9% during the fourth quarter. Invesco Ltd. now owns 341,939 shares of the transportation company’s stock worth $16,601,000 after buying an additional 74,635 shares during the period. Mackenzie Financial Corp grew its holdings in International Seaways by 41.4% in the 4th quarter. Mackenzie Financial Corp now owns 19,760 shares of the transportation company’s stock worth $954,000 after buying an additional 5,783 shares in the last quarter. NewEdge Advisors LLC grew its holdings in International Seaways by 416.1% in the 4th quarter. NewEdge Advisors LLC now owns 10,807 shares of the transportation company’s stock worth $525,000 after buying an additional 8,713 shares in the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new stake in International Seaways during the 4th quarter valued at $46,000. 67.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on INSW. Deutsche Bank Aktiengesellschaft lifted their price objective on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, January 20th. BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of International Seaways from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $68.00.

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.