International Seaways, Inc. (NYSE:INSW) SVP Sells $146,916.00 in Stock

International Seaways, Inc. (NYSE:INSW) 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

INSW has been the topic of a number of research reports. Jefferies Financial Group reissued a “buy” rating and issued a $58.00 price objective on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, International Seaways presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

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.