Insider Selling: International Seaways (NYSE:INSW) CEO Sells $216,020.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the completion of the transaction, the chief executive officer directly owned 171,745 shares of the company’s stock, valued at approximately $18,550,177.45. The trade was a 1.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

International Seaways Stock Performance

NYSE INSW opened at $111.26 on Friday. The firm’s fifty day moving average price is $96.84 and its two-hundred day moving average price is $85.19. The stock has a market cap of $5.51 billion, a PE ratio of 7.11, a PEG ratio of 0.28 and a beta of -0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. International Seaways Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $113.14.

International Seaways (NYSE:INSW) last issued its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.36. The business had revenue of $467.29 million for the quarter, compared to analyst estimates of $406.38 million. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.International Seaways’s quarterly revenue was up 138.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. On average, equities analysts expect that International Seaways Inc. will post 16.09 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $5.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a dividend yield of 18.2%. International Seaways’s payout ratio is currently 129.16%.

Analysts Set New Price Targets

INSW has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Weiss Ratings restated a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. Finally, BTIG Research lifted their target price on shares of International Seaways from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and an average price target of $102.25.

Hedge Funds Weigh In On International Seaways

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of International Seaways by 11.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock valued at $85,000 after buying an additional 118 shares during the period. Allworth Financial LP raised its stake in International Seaways by 23.4% during the 2nd quarter. Allworth Financial LP now owns 623 shares of the transportation company’s stock worth $48,000 after buying an additional 118 shares during the period. GAMMA Investing LLC boosted its holdings in International Seaways by 4.0% in the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after acquiring an additional 178 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in International Seaways by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after acquiring an additional 200 shares during the period. Finally, ProShare Advisors LLC grew its stake in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after acquiring an additional 241 shares during the period. Institutional investors and hedge funds own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.