International Seaways (NYSE:INSW) CEO Sells $168,460.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the transaction, the chief executive officer directly owned 179,745 shares in the company, valued at $15,139,921.35. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Stock Up 1.0%

Shares of INSW traded up $0.82 during mid-day trading on Monday, reaching $85.40. 454,696 shares of the stock traded hands, compared to its average volume of 595,545. 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 price-to-earnings ratio of 7.78 and a beta of -0.09. 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 fifty day simple moving average of $76.55 and a 200 day simple moving average of $63.22.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share 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 period last year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. Sell-side analysts expect that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Dividend Announcement

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

Hedge Funds Weigh In On International Seaways

Large investors have recently made changes to their positions in the company. 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 valued at $31,013,000 after buying an additional 12,188 shares during the period. TrueMark Investments LLC bought a new position in shares of International Seaways during the fourth quarter worth about $1,404,000. SG Americas Securities LLC grew its holdings in shares of International Seaways by 123.4% during the fourth quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock worth $1,664,000 after buying an additional 18,935 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in International Seaways during the fourth quarter valued at approximately $910,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in International Seaways during the fourth quarter valued at approximately $709,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INSW shares. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Research downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price target on shares of International Seaways in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.50.

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.