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

International Seaways, Inc. (NYSE:INSW) SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 50,453 shares of the company’s stock, valued at $1,684,625.67. The trade was a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

International Seaways Price Performance

Shares of NYSE INSW opened at $33.57 on Friday. International Seaways, Inc. has a 1-year low of $31.70 and a 1-year high of $65.94. The business has a 50-day moving average of $37.33 and a 200-day moving average of $42.02. 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 company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 3.24 and a beta of -0.17.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Institutional Investors Weigh In On International Seaways

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of International Seaways by 27.3% in the third quarter. Principal Financial Group Inc. now owns 28,583 shares of the transportation company’s stock worth $1,474,000 after acquiring an additional 6,121 shares in the last quarter. Entropy Technologies LP lifted its stake in shares of International Seaways by 61.0% in the third quarter. Entropy Technologies LP now owns 22,988 shares of the transportation company’s stock worth $1,185,000 after acquiring an additional 8,713 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of International Seaways by 112.6% in the third quarter. GSA Capital Partners LLP now owns 17,453 shares of the transportation company’s stock worth $900,000 after acquiring an additional 9,245 shares in the last quarter. KBC Group NV lifted its stake 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 worth $56,000 after acquiring an additional 428 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of International Seaways by 3.4% in the third quarter. Segall Bryant & Hamill LLC now owns 98,597 shares of the transportation company’s stock worth $5,084,000 after acquiring an additional 3,278 shares in the last quarter. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INSW shares. SEB Equity Research set a $50.00 price target on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reissued a “buy” rating and set a $58.00 price target on shares of International Seaways in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

International Seaways Company Profile

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.