Insider Selling: International Seaways, Inc. (NYSE:INSW) CEO Sells $69,320.00 in Stock

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

International Seaways Stock Up 0.2 %

INSW stock opened at $35.29 on Friday. The company has a market cap of $1.74 billion, a P/E ratio of 3.41 and a beta of -0.17. International Seaways, Inc. has a 52 week low of $31.70 and a 52 week high of $65.94. The company’s 50-day moving average price is $37.08 and its 200 day moving average price is $41.45. 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 business 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio is currently 5.72%.

Analysts Set New Price Targets

Several research firms have recently commented on INSW. SEB Equity Research set a $50.00 target price on shares of International Seaways in a research note on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price objective on shares of International Seaways in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently modified their holdings of INSW. Banque Transatlantique SA purchased a new stake in shares of International Seaways in the fourth quarter valued at about $29,000. Larson Financial Group LLC purchased a new stake in shares of International Seaways in the fourth quarter valued at about $37,000. Quarry LP lifted its holdings in shares of International Seaways by 169.0% in the fourth 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. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways in the third quarter valued at about $52,000. Finally, KBC Group NV raised its position in shares of International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.