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 business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares in the company, valued at $1,746,591.21. This trade represents a 1.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

International Seaways Stock Down 2.3 %

Shares of NYSE INSW opened at $35.40 on Friday. The firm’s 50-day simple moving average is $39.04 and its 200 day simple moving average is $48.06. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 3.42 and a beta of -0.10. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a 12-month low of $32.11 and a 12-month high of $65.94.

International Seaways (NYSE:INSW) last released its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $208.75 million. During the same period in the prior year, the company posted $1.99 EPS. The company’s revenue was down 6.8% compared to the same quarter last year. On average, research analysts expect that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a yield of 14.92%. International Seaways’s dividend payout ratio is presently 4.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered shares of International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised shares of International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group lowered their price target on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Institutional Trading of International Seaways

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in shares of International Seaways in the 3rd quarter valued at about $41,000. EverSource Wealth Advisors LLC increased its stake in shares of International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 305 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of 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% in 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 increased its stake in shares of International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares during the last quarter. 67.29% of the stock is owned by 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.