International Seaways (NYSE:INSW) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Separately, BTIG Research raised their price target on shares of International Seaways from $45.00 to $55.00 and gave the company a buy rating in a report on Thursday, September 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, International Seaways presently has an average rating of Moderate Buy and a consensus target price of $60.20.

International Seaways Trading Up 0.2 %

NYSE INSW opened at $46.67 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.52 and a current ratio of 2.53. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 3.62 and a beta of 0.09. The company’s 50-day simple moving average is $45.21 and its two-hundred day simple moving average is $41.67. International Seaways has a one year low of $33.04 and a one year high of $53.25.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 10.71%. The ex-dividend date of this dividend is Tuesday, December 12th. International Seaways’s dividend payout ratio (DPR) is presently 3.70%.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $48.24, for a total value of $48,240.00. Following the completion of the sale, the chief financial officer now directly owns 78,927 shares in the company, valued at approximately $3,807,438.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,500 shares of company stock worth $246,985 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its stake in International Seaways by 1.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 42,834 shares of the transportation company’s stock valued at $1,785,000 after acquiring an additional 525 shares during the period. Hosking Partners LLP lifted its stake in International Seaways by 9.7% during the 2nd quarter. Hosking Partners LLP now owns 802,887 shares of the transportation company’s stock valued at $30,702,000 after acquiring an additional 70,898 shares during the period. Moors & Cabot Inc. increased its holdings in shares of International Seaways by 188.1% during the 2nd quarter. Moors & Cabot Inc. now owns 15,210 shares of the transportation company’s stock valued at $582,000 after purchasing an additional 9,930 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of International Seaways during the 2nd quarter valued at approximately $3,594,000. Finally, Victory Capital Management Inc. increased its holdings in shares of International Seaways by 159.2% during the 1st quarter. Victory Capital Management Inc. now owns 966,565 shares of the transportation company’s stock valued at $40,286,000 after purchasing an additional 593,683 shares in the last quarter. 63.08% of the stock is currently owned by institutional investors and hedge funds.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.