International Seaways, Inc. (NYSE:INSW - Get Free Report) SVP Derek G. Solon sold 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total value of $46,692.00. Following the completion of the transaction, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
International Seaways Price Performance
INSW stock opened at $39.01 on Friday. The business's 50-day moving average is $46.39 and its two-hundred day moving average is $52.66. 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 firm has a market capitalization of $1.92 billion, a P/E ratio of 3.77 and a beta of -0.06. International Seaways, Inc. has a 1 year low of $38.67 and a 1 year high of $65.94.
International Seaways (NYSE:INSW - Get Free Report) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.15. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The company's revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 earnings per share. Analysts anticipate that International Seaways, Inc. will post 7.92 earnings per share for the current fiscal year.
International Seaways Increases Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.32 per share. This is a positive change from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 13th. This represents a $5.28 annualized dividend and a dividend yield of 13.53%. International Seaways's dividend payout ratio (DPR) is presently 4.64%.
Institutional Trading of International Seaways
A number of large investors have recently made changes to their positions in INSW. Vanguard Group Inc. grew its position in shares of International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company's stock worth $212,074,000 after acquiring an additional 286,295 shares during the last quarter. American Century Companies Inc. grew its position in International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company's stock worth $73,034,000 after purchasing an additional 252,492 shares during the last quarter. Geode Capital Management LLC increased its stake in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock valued at $48,650,000 after purchasing an additional 38,871 shares during the period. Renaissance Technologies LLC increased its stake in International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company's stock valued at $52,184,000 after purchasing an additional 44,200 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of International Seaways by 4.1% during the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company's stock worth $50,482,000 after buying an additional 33,712 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on INSW shares. Jefferies Financial Group dropped their price target on International Seaways from $66.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Fearnley Fonds upgraded International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Stifel Nicolaus cut 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 research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of International Seaways from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.
View Our Latest Analysis on International Seaways
International Seaways Company Profile
(
Get Free Report)
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.
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