Derek G. Solon Sells 4,400 Shares of International Seaways, Inc. (NYSE:INSW) Stock

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the sale, the senior vice president now owns 50,453 shares in the company, valued at $1,684,625.67. The trade was a 8.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

International Seaways Stock Up 1.8 %

Shares of International Seaways stock opened at $33.57 on Friday. International Seaways, Inc. has a twelve month low of $31.70 and a twelve month high of $65.94. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 3.24 and a beta of -0.17. The business’s 50 day simple moving average is $37.33 and its 200-day simple moving average is $42.02. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, March 14th. International Seaways’s dividend payout ratio (DPR) is 5.72%.

Analyst Upgrades and Downgrades

INSW has been the topic of several research reports. SEB Equity Research set a $50.00 price objective on International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday, February 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 MarketBeat, International Seaways currently has a consensus rating of “Moderate Buy” and an average target price of $57.50.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA bought a new position in International Seaways in the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in International Seaways during the 3rd quarter valued at $52,000. Larson Financial Group LLC bought a new position in International Seaways during the 4th quarter valued at $37,000. KBC Group NV boosted its stake in 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 purchasing an additional 428 shares in the last quarter. Finally, Quarry LP boosted its stake in International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

About International Seaways

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.