International Seaways (NYSE:INSW) Director Sells $306,463.70 in Stock

International Seaways Inc. (NYSE:INSW) Director Randee Day sold 4,090 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $74.93, for a total value of $306,463.70. Following the completion of the sale, the director owned 18,435 shares of the company’s stock, valued at approximately $1,381,334.55. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

International Seaways Price Performance

International Seaways stock opened at $66.85 on Friday. The firm has a market cap of $3.30 billion, a PE ratio of 10.73 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The stock’s fifty day moving average price is $62.24 and its two-hundred day moving average price is $53.40. International Seaways Inc. has a one year low of $27.20 and a one year high of $78.51.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share 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 was up 37.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. As a group, research analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.7%. International Seaways’s dividend payout ratio is currently 7.70%.

Analysts Set New Price Targets

INSW has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. BTIG Research lifted their price objective on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Finally, Pareto Securities upgraded International Seaways from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $68.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of International Seaways by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,972,012 shares of the transportation company’s stock worth $144,290,000 after acquiring an additional 68,248 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of International Seaways by 7.5% during 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 increased its position in International Seaways by 0.4% during the 4th 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 in the last quarter. Donald Smith & CO. Inc. increased its position in International Seaways by 43.9% during the 2nd 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. Finally, Charles Schwab Investment Management Inc. lifted its stake in International Seaways by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after purchasing an additional 12,188 shares during the last quarter. Institutional investors and hedge funds 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.