International Seaways Inc. (NYSE:INSW) SVP Sells $124,050.00 in Stock

International Seaways Inc. (NYSE:INSW) SVP Derek G. Solon sold 3,000 shares at an average price of $41.35, totaling $124,050. Following the sale, he owns 52,893 shares valued at approximately $2.19 million, marking a 5.37% decrease in his position. The transaction was disclosed to the SEC. The company's stock opened at $41.66, with a market cap of $2.06 billion and a P/E ratio of 8.66. International Seaways recently announced a quarterly dividend of $0.12 per share, with a yield of 1.2%.

International Seaways Inc. (NYSE:INSW - Get Free Report) SVP Derek G. Solon sold 3,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $41.35, for a total value of $124,050.00. Following the completion of the sale, the senior vice president directly owned 52,893 shares in the company, valued at approximately $2,187,125.55. The trade was a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

International Seaways Stock Performance

3 Recession-Resistant Stocks: Low Beta, High Margins, Low Debt

Shares of NYSE:INSW opened at $41.66 on Friday. The company has a market cap of $2.06 billion, a P/E ratio of 8.66 and a beta of 0.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. International Seaways Inc. has a one year low of $27.20 and a one year high of $54.84. The business's 50-day simple moving average is $39.80 and its 200 day simple moving average is $36.96.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. The business had revenue of $188.82 million for the quarter, compared to the consensus estimate of $199.06 million. International Seaways had a return on equity of 11.35% and a net margin of 29.88%. The company's revenue was down 24.0% on a year-over-year basis. During the same period last year, the business posted $2.37 EPS. On average, sell-side analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Announces Dividend

ZIM Shipping stock proves unsinkable despite Red Sea disruptions

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 10th. International Seaways's dividend payout ratio (DPR) is presently 9.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INSW shares. BTIG Research cut their price objective on International Seaways from $70.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Jefferies Financial Group restated a "buy" rating and issued a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.

Ride the Waves of Wealth With This Oil Tanker 17% Yield

View Our Latest Stock Analysis on INSW

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently bought and sold shares of INSW. Banque Transatlantique SA acquired a new stake in International Seaways during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC grew its stake in International Seaways by 105.1% during the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock valued at $39,000 after purchasing an additional 596 shares in the last quarter. Quarry LP grew its stake in International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock valued at $49,000 after purchasing an additional 852 shares in the last quarter. Blue Trust Inc. grew its stake in International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after purchasing an additional 738 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of International Seaways in the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 67.29% of the company's stock.

About International Seaways

(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.