International Seaways (NYSE:INSW) Reaches New 1-Year High at $55.65

International Seaways, Inc. (NYSE:INSW)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $55.65 and last traded at $55.50, with a volume of 112274 shares trading hands. The stock had previously closed at $55.13.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSW. Stifel Nicolaus upped their price objective on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th. Finally, StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday.

International Seaways Trading Up 0.4 %

The company has a market capitalization of $2.71 billion, a P/E ratio of 4.90 and a beta of -0.05. The stock’s 50 day moving average is $52.78 and its 200-day moving average is $49.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. As a group, equities research analysts anticipate that International Seaways, Inc. will post 9.33 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

Insiders Place Their Bets

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.09, for a total value of $53,090.00. Following the sale, the chief financial officer now owns 82,161 shares in the company, valued at $4,361,927.49. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.09, for a total transaction of $53,090.00. Following the sale, the chief financial officer now owns 82,161 shares in the company, valued at $4,361,927.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexandra Kate Blankenship sold 6,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $53.09, for a total transaction of $318,540.00. Following the sale, the director now owns 19,098 shares in the company, valued at approximately $1,013,912.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,846 shares of company stock worth $3,073,978. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in International Seaways by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock valued at $168,279,000 after purchasing an additional 119,000 shares during the period. Dimensional Fund Advisors LP lifted its position in International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after purchasing an additional 122,642 shares during the period. Donald Smith & CO. Inc. lifted its position in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after purchasing an additional 318,962 shares during the period. Hosking Partners LLP lifted its position in International Seaways by 20.1% during the third quarter. Hosking Partners LLP now owns 964,530 shares of the transportation company’s stock valued at $43,404,000 after purchasing an additional 161,643 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after purchasing an additional 139,569 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.