International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent Sells 1,000 Shares

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the transaction, the senior vice president now owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

International Seaways Stock Up 0.9 %

Shares of International Seaways stock opened at $36.25 on Friday. The company has a 50-day simple moving average of $39.24 and a two-hundred day simple moving average of $48.20. The stock has a market capitalization of $1.78 billion, a PE ratio of 3.50 and a beta of -0.10. International Seaways, Inc. has a 52-week low of $32.11 and a 52-week high of $65.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The company had revenue of $225.20 million during the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 EPS. On average, analysts anticipate that International Seaways, Inc. will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 14.57%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is currently 4.64%.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in International Seaways by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after buying an additional 38,871 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of International Seaways in the third quarter worth approximately $2,161,000. Charles Schwab Investment Management Inc. raised its holdings in shares of International Seaways by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock valued at $22,205,000 after purchasing an additional 32,825 shares during the last quarter. Barclays PLC lifted its position in International Seaways by 206.3% during the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock valued at $13,374,000 after purchasing an additional 174,695 shares during the period. Finally, FMR LLC boosted its holdings in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a research report on Friday, September 27th. Jefferies Financial Group decreased their target price on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Stifel Nicolaus cut International Seaways from a “buy” rating to a “hold” rating and dropped their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, International Seaways has an average rating of “Moderate Buy” and an average price target of $60.67.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.