Insider Selling: International Seaways (NYSE:INSW) CAO Sells $1,507,400.00 in Stock

International Seaways Inc. (NYSE:INSW) CAO James Small III sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $75.37, for a total transaction of $1,507,400.00. Following the completion of the transaction, the chief accounting officer owned 36,376 shares in the company, valued at approximately $2,741,659.12. This represents a 35.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

International Seaways Price Performance

Shares of INSW opened at $72.45 on Friday. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $78.51. The company has a market capitalization of $3.58 billion, a P/E ratio of 11.63 and a beta of -0.23. The firm has a 50 day moving average of $60.41 and a 200 day moving average of $52.69. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 26th. The transportation company reported $2.45 EPS for the quarter, beating the consensus estimate of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business had revenue of $267.88 million for the quarter, compared to the consensus estimate of $245.29 million. During the same period last year, the business posted $0.90 EPS. The company’s revenue was up 37.7% compared to the same quarter last year. As a group, equities research analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. International Seaways’s dividend payout ratio (DPR) is 7.70%.

Wall Street Analyst Weigh In

INSW has been the subject of a number of recent analyst reports. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Pareto Securities raised shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, International Seaways has an average rating of “Buy” and a consensus target price of $64.00.

Hedge Funds Weigh In On International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Corp increased its position in International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after buying an additional 377 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock valued at $35,000 after buying an additional 378 shares in the last quarter. Leonteq Securities AG bought a new position in shares of International Seaways during the 4th quarter valued at approximately $44,000. Garton & Associates Financial Advisors LLC bought a new position in shares of International Seaways during the 4th quarter valued at approximately $46,000. Finally, Founders Capital Management increased its holdings in International Seaways by 37.5% in the 4th quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

About International Seaways

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.