Lois K. Zabrocky Sells 2,000 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the sale, the chief executive officer now directly owns 179,557 shares in the company, valued at approximately $6,223,445.62. This represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

International Seaways Price Performance

Shares of NYSE INSW opened at $35.23 on Thursday. International Seaways, Inc. has a 1-year low of $31.70 and a 1-year high of $65.94. 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’s fifty day moving average price is $37.14 and its two-hundred day moving average price is $41.49. The firm has a market capitalization of $1.73 billion, a PE ratio of 3.40 and a beta of -0.17.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio is presently 5.72%.

Institutional Investors Weigh In On International Seaways

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in International Seaways by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company’s stock worth $171,043,000 after buying an additional 369,145 shares during the period. American Century Companies Inc. grew its stake in shares of International Seaways by 9.8% in the fourth quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company’s stock worth $58,681,000 after purchasing an additional 146,145 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of International Seaways by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company’s stock worth $34,084,000 after purchasing an additional 4,769 shares in the last quarter. FMR LLC grew its stake in shares of International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of International Seaways by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company’s stock worth $16,662,000 after purchasing an additional 32,953 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INSW shares. SEB Equity Research set a $50.00 price target on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. Two equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.50.

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.