Insider Selling: International Seaways (NYSE:INSW) SVP Sells $452,460.00 in Stock

International Seaways Inc. (NYSE:INSW) SVP Derek Solon sold 6,000 shares of International Seaways stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $75.41, for a total value of $452,460.00. Following the sale, the senior vice president directly owned 50,989 shares of the company’s stock, valued at $3,845,080.49. This represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

International Seaways Price Performance

Shares of NYSE INSW opened at $72.45 on Friday. The stock’s 50-day simple moving average is $60.41 and its two-hundred day simple moving average is $52.61. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $78.51. The firm has a market capitalization of $3.58 billion, a P/E ratio of 11.63 and a beta of -0.23. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. The firm had revenue of $267.88 million during the quarter, compared to the consensus estimate of $245.29 million. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. As a group, equities analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th 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 0.7%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways’s payout ratio is currently 7.70%.

Analyst Ratings Changes

A number of brokerages have commented on INSW. Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday. Pareto Securities raised International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, January 20th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Thursday, January 22nd. Finally, BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, International Seaways currently has a consensus rating of “Buy” and a consensus price target of $64.00.

Institutional Investors Weigh In On International Seaways

A number of large investors have recently added to or reduced their stakes in the stock. Amundi purchased a new position in International Seaways during the fourth quarter valued at approximately $13,663,000. Donald Smith & CO. Inc. increased its stake in shares of International Seaways by 43.9% in the second quarter. Donald Smith & CO. Inc. now owns 709,036 shares of the transportation company’s stock worth $25,866,000 after purchasing an additional 216,325 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of International Seaways by 4,255.3% during the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after purchasing an additional 192,848 shares during the period. American Century Companies Inc. lifted its stake in shares of International Seaways by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,855,110 shares of the transportation company’s stock valued at $67,674,000 after buying an additional 159,125 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of International Seaways during the 4th quarter valued at $7,087,000. Institutional investors own 67.29% of the company’s stock.

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.