International Seaways, Inc. (NYSE:INSW – Get Free Report) SVP Derek G. Solon sold 4,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares in the company, valued at approximately $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
International Seaways Price Performance
International Seaways stock opened at $33.57 on Monday. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94. The stock has a market capitalization of $1.65 billion, a P/E ratio of 3.24 and a beta of -0.17. The firm’s 50-day moving average is $37.30 and its two-hundred day moving average is $41.77. 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. International Seaways’s dividend payout ratio is currently 5.72%.
Analyst Ratings Changes
View Our Latest Stock Analysis on INSW
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of INSW. FMR LLC lifted its holdings in shares of International Seaways by 221.0% during the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after acquiring an additional 414,610 shares during the period. Bridgeway Capital Management LLC purchased a new position in shares of International Seaways during the 4th quarter worth about $14,269,000. Vanguard Group Inc. lifted its holdings in shares of International Seaways by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after acquiring an additional 369,145 shares during the period. Clearbridge Investments LLC purchased a new position in shares of International Seaways during the 4th quarter worth about $11,374,000. Finally, Empowered Funds LLC lifted its holdings in shares of International Seaways by 470.8% during the 4th quarter. Empowered Funds LLC now owns 273,032 shares of the transportation company’s stock worth $9,813,000 after acquiring an additional 225,196 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.
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.
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