International Seaways (NYSE:INSW) Stock Price Down 4.4% – Time to Sell?

International Seaways Inc. (NYSE:INSW) shares dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $69.40 and last traded at $69.9150. Approximately 156,492 shares changed hands during trading, a decline of 74% from the average daily volume of 613,488 shares. The stock had previously closed at $73.15.

Analysts Set New Price Targets

INSW has been the subject of a number of research analyst reports. Weiss Ratings raised shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. 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 report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Zacks Research raised International Seaways from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, International Seaways currently has a consensus rating of “Buy” and a consensus target price of $68.00.

International Seaways Stock Performance

The business’s fifty day moving average is $65.01 and its two-hundred day moving average is $54.86. The stock has a market capitalization of $3.46 billion, a PE ratio of 11.23 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 released 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. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The company had revenue of $267.88 million for the quarter, compared to the consensus estimate of $245.29 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. International Seaways’s revenue was up 37.7% on a year-over-year basis. As a group, research analysts anticipate that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The business also recently declared 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 is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.7%. International Seaways’s dividend payout ratio (DPR) is currently 7.70%.

Insider Activity at International Seaways

In other news, Treasurer Debra Grillo sold 389 shares of International Seaways stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $76.27, for a total value of $29,669.03. Following the completion of the transaction, the treasurer owned 1,185 shares in the company, valued at approximately $90,379.95. The trade was a 24.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randee E. 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 transaction, the director directly owned 18,435 shares in the company, valued at approximately $1,381,334.55. This represents a 18.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,697 shares of company stock valued at $4,459,450 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of International Seaways by 42.0% in the first quarter. Royal Bank of Canada now owns 9,365 shares of the transportation company’s stock valued at $311,000 after acquiring an additional 2,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of International Seaways by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,089 shares of the transportation company’s stock worth $800,000 after purchasing an additional 900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of International Seaways by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 128,428 shares of the transportation company’s stock worth $4,264,000 after purchasing an additional 18,509 shares during the period. Geode Capital Management LLC grew its holdings in International Seaways by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,006,390 shares of the transportation company’s stock valued at $36,718,000 after purchasing an additional 6,076 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in International Seaways by 9.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,461 shares of the transportation company’s stock worth $345,000 after purchasing an additional 790 shares during the period. Institutional investors 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.