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

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total value of $33,890.00. Following the transaction, the senior vice president now owns 55,852 shares in the company, valued at approximately $1,892,824.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

International Seaways Price Performance

NYSE:INSW traded down $0.40 during trading hours on Monday, reaching $32.93. 1,479,074 shares of the company were exchanged, compared to its average volume of 664,542. The company has a market capitalization of $1.62 billion, a P/E 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. The business has a 50 day moving average of $37.72 and a 200 day moving average of $42.96. International Seaways, Inc. has a 1-year low of $32.11 and a 1-year high of $65.94.

International Seaways Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenorchy Capital Ltd grew its stake in 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 buying 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 worth $99,000 after acquiring an additional 357 shares during the period. Farther Finance Advisors LLC boosted its position in shares of International Seaways by 3.6% during the 4th quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock worth $375,000 after acquiring an additional 360 shares in the last quarter. Franklin Resources Inc. increased its stake in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 379 shares during the last quarter. Finally, KBC Group NV increased its stake in International Seaways by 65.2% in 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 during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

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

About International Seaways

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.