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 International Seaways stock in a transaction on Monday, March 17th. The shares were sold at an average price of $34.66, for a total value of $69,320.00. Following the transaction, the chief executive officer now owns 179,557 shares in the company, valued at $6,223,445.62. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

International Seaways Price Performance

Shares of International Seaways stock traded down $0.25 during trading hours on Tuesday, hitting $34.31. The company’s stock had a trading volume of 550,447 shares, compared to its average volume of 680,645. The business has a 50 day moving average price of $37.28 and a two-hundred day moving average price of $41.66. International Seaways, Inc. has a 12-month low of $31.70 and a 12-month high of $65.94. The company has a market cap of $1.69 billion, a PE ratio of 3.31 and a beta of -0.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60.

International Seaways Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. International Seaways’s payout ratio is 5.72%.

Hedge Funds Weigh In On International Seaways

Several large investors have recently made changes to their positions in the business. Glenorchy Capital Ltd lifted its position in shares of International Seaways by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company’s stock valued at $1,809,000 after acquiring an additional 322 shares in the last quarter. Bfsg LLC lifted its position in shares of International Seaways by 14.9% in the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company’s stock valued at $99,000 after acquiring an additional 357 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company’s stock valued at $375,000 after acquiring an additional 360 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 379 shares in the last quarter. Finally, KBC Group NV lifted 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 acquiring an additional 428 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.