International Seaways (NYSE:INSW) Shares Down 5% on Insider Selling

International Seaways, Inc. (NYSE:INSW) traded down 5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $39.54 and last traded at $39.53. 746,184 shares were traded during trading, a decline of 25% from the average session volume of 989,218 shares. The stock had previously closed at $41.61.

Specifically, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction on Monday, January 15th. The shares were sold at an average price of $41.28, for a total transaction of $82,560.00. Following the sale, the chief executive officer now directly owns 147,045 shares in the company, valued at $6,070,017.60. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

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

International Seaways Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The stock’s fifty day moving average price is $38.14 and its 200-day moving average price is $46.69. The firm has a market cap of $1.89 billion, a PE ratio of 3.72 and a beta of -0.10.

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

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.32 per share. This is an increase from International Seaways’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, December 13th. This represents a $5.28 annualized dividend and a yield of 13.72%. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSW. Blue Trust Inc. acquired a new position in International Seaways in the 3rd quarter valued at $41,000. EverSource Wealth Advisors LLC boosted its stake in International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after buying an additional 305 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in International Seaways in the 3rd quarter valued at about $52,000. KBC Group NV increased its stake in shares of International Seaways by 65.2% during the 3rd 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. Finally, Quarry LP lifted its holdings in shares of International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares during the period. Hedge funds and other institutional investors 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.