International Seaways (NYSE:INSW) Reaches New 1-Year Low – Time to Sell?

International Seaways, Inc. (NYSE:INSW)’s stock price hit a new 52-week low on Monday . The stock traded as low as $31.86 and last traded at $33.31, with a volume of 690779 shares changing hands. The stock had previously closed at $33.33.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $58.00 target price on shares of International Seaways in a research report on Thursday. SEB Equity Research set a $50.00 target price on International Seaways in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

International Seaways Stock Performance

The firm’s fifty day simple moving average is $37.72 and its 200 day simple moving average is $42.96. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 3.18 and a beta of -0.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. International Seaways’s payout ratio is currently 4.64%.

Insider Activity

In related news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently modified their holdings of INSW. Glenorchy Capital Ltd raised its holdings in shares of International Seaways by 0.6% during the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company’s stock worth $1,809,000 after acquiring an additional 322 shares in the last quarter. Bfsg LLC lifted its holdings in shares of International Seaways by 14.9% during the 4th quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after buying an additional 357 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of International Seaways by 3.6% in the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock valued at $375,000 after buying an additional 360 shares in the last quarter. Franklin Resources Inc. increased its holdings in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock worth $2,428,000 after buying an additional 379 shares during the last quarter. Finally, KBC Group NV raised its position in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 428 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.