International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent Sells 3,000 Shares

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $64.70, for a total value of $194,100.00. Following the transaction, the senior vice president now owns 54,803 shares in the company, valued at $3,545,754.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

International Seaways Stock Down 1.4 %

Shares of NYSE INSW opened at $64.00 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.72 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.16 billion, a PE ratio of 5.98 and a beta of -0.05. The stock’s fifty day simple moving average is $55.61 and its two-hundred day simple moving average is $51.45. International Seaways, Inc. has a 12-month low of $34.77 and a 12-month high of $65.11.

International Seaways (NYSE:INSW) last announced its earnings results on Wednesday, May 8th. The transportation company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.54. The business had revenue of $274.40 million for the quarter, compared to analysts’ expectations of $249.12 million. International Seaways had a return on equity of 29.74% and a net margin of 49.88%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 EPS. As a group, analysts expect that International Seaways, Inc. will post 10.07 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a $1.75 dividend. This is a boost from International Seaways’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 10.94%. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Institutional Trading of International Seaways

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC boosted its position in shares of International Seaways by 173.4% in the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of International Seaways in the 1st quarter worth $108,000. Bfsg LLC acquired a new stake in shares of International Seaways in the 4th quarter worth $167,000. U S Global Investors Inc. boosted its position in shares of International Seaways by 144.5% in the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Cim LLC acquired a new stake in shares of International Seaways in the 4th quarter worth $192,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analysts Forecast Growth

INSW has been the topic of several research reports. Stifel Nicolaus raised their price objective on International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group restated a “buy” rating and set a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft raised their price objective on International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, StockNews.com upgraded International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, International Seaways has a consensus rating of “Buy” and a consensus target price of $63.25.

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.