Lois Zabrocky Sells 2,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $67.79, for a total value of $135,580.00. Following the transaction, the chief executive officer owned 208,745 shares of the company’s stock, valued at approximately $14,150,823.55. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

International Seaways Stock Up 2.6%

Shares of International Seaways stock opened at $69.48 on Thursday. The firm has a market cap of $3.43 billion, a PE ratio of 11.15 and a beta of -0.23. The business’s 50 day simple moving average is $63.75 and its 200 day simple moving average is $54.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.71 and a current ratio of 3.71. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $78.51.

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

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. International Seaways’s dividend payout ratio (DPR) is 7.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSW. 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 restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Benchmark reaffirmed a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Wall Street Zen raised International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, BTIG Research raised their price target on International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $68.00.

Institutional Trading of International Seaways

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of International Seaways by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,972,012 shares of the transportation company’s stock worth $144,290,000 after purchasing an additional 68,248 shares during the last quarter. American Century Companies Inc. lifted its stake in International Seaways by 7.5% in the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after purchasing an additional 139,868 shares during the last quarter. Geode Capital Management LLC grew its holdings in International Seaways by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,010,815 shares of the transportation company’s stock worth $49,083,000 after purchasing an additional 4,250 shares during the period. Donald Smith & CO. Inc. grew its holdings in International Seaways by 43.9% during 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its position in International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock worth $31,013,000 after buying an additional 12,188 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

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.