Insider Selling: International Seaways (NYSE:INSW) Major Shareholder Sells $4,750,209.02 in Stock

International Seaways Inc. (NYSE:INSW) major shareholder Finance Ltd Famatown sold 38,917 shares of the business’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $122.06, for a total value of $4,750,209.02. Following the completion of the sale, the insider directly owned 6,565,387 shares of the company’s stock, valued at $801,371,137.22. This represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Wednesday, October 14th, Finance Ltd Famatown sold 64,821 shares of International Seaways stock. The shares were sold at an average price of $125.05, for a total transaction of $8,105,866.05.
• 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 transaction 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 stock was 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 stock was sold at an average price of $114.97, for a total value of $11,497,000.00.
• On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The shares were 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 shares were sold at an average price of $111.09, for a total transaction 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 transaction of $1,697,048.32.

International Seaways Stock Down 1.5%

Shares of International Seaways stock opened at $111.94 on Friday. The company has a market capitalization of $5.54 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 0.30 and a beta of -0.14. The business has a 50-day moving average of $108.47 and a two-hundred day moving average of $85.47. International Seaways Inc. has a 1 year low of $46.09 and a 1 year high of $126.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76.

International Seaways (NYSE:INSW) last released its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.36. The business had revenue of $467.29 million for the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%. International Seaways’s quarterly revenue was up 138.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 earnings per share. As a group, equities analysts predict that International Seaways Inc. will post 17.47 EPS for the current year.

International Seaways Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INSW. Covestor Ltd boosted its stake in shares of International Seaways by 79.0% in the 3rd quarter. Covestor Ltd now owns 843 shares of the transportation company’s stock valued at $93,000 after purchasing an additional 372 shares in the last quarter. Compass Financial Management LLC raised its holdings in International Seaways by 196.4% in the third quarter. Compass Financial Management LLC now owns 2,768 shares of the transportation company’s stock worth $305,000 after buying an additional 1,834 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of International Seaways by 1.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 9,335 shares of the transportation company’s stock worth $1,028,000 after buying an additional 103 shares in the last quarter. Arlington Capital Management INC grew its holdings in shares of International Seaways by 5.2% during the third quarter. Arlington Capital Management INC now owns 3,011 shares of the transportation company’s stock valued at $332,000 after buying an additional 150 shares during the last quarter. Finally, Profund Advisors LLC bought a new stake in shares of International Seaways during the third quarter valued at approximately $213,000. 67.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of International Seaways from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered International Seaways from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Jefferies Financial Group raised 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.00 target price on shares of International Seaways in a research note on Tuesday, September 1st. Finally, B. Riley Financial raised their price target on shares of International Seaways from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, International Seaways presently has an average rating of “Buy” and a consensus price target of $109.80.

About International Seaways

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.