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

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $55.17, for a total transaction of $110,340.00. Following the sale, the chief executive officer directly owned 180,421 shares of the company’s stock, valued at $9,953,826.57. This represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

International Seaways Stock Up 1.1%

Shares of NYSE INSW opened at $56.40 on Friday. International Seaways Inc. has a 52-week low of $27.20 and a 52-week high of $57.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 1.75. The company’s 50 day moving average price is $51.47 and its 200-day moving average price is $46.94. The company has a market capitalization of $2.79 billion, a P/E ratio of 12.85 and a beta of -0.18.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, November 6th. The transportation company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.24. International Seaways had a return on equity of 10.13% and a net margin of 28.26%.The firm had revenue of $196.39 million during the quarter, compared to analyst estimates of $180.92 million. During the same period last year, the company posted $1.57 EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. Equities analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 annualized dividend and a yield of 0.9%. International Seaways’s dividend payout ratio is currently 10.93%.

Institutional Investors Weigh In On International Seaways

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares during the last quarter. Founders Capital Management lifted its holdings in International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after acquiring an additional 300 shares during the period. Advisory Services Network LLC purchased a new position in International Seaways in the third quarter worth $53,000. EverSource Wealth Advisors LLC boosted its position in International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock worth $55,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in International Seaways in the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the subject of a number of research reports. Wall Street Zen cut International Seaways from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Finally, Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $52.67.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.