International Seaways, Inc. (NYSE:INSW) CFO Sells $2,182,950.00 in Stock

International Seaways, Inc. (NYSE:INSWGet Free Report) CFO Jeffrey Pribor sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $62.37, for a total transaction of $2,182,950.00. Following the transaction, the chief financial officer now owns 40,849 shares of the company’s stock, valued at approximately $2,547,752.13. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Jeffrey Pribor also recently made the following trade(s):

  • On Wednesday, May 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $54.87, for a total transaction of $54,870.00.
  • On Monday, April 1st, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $53.39, for a total transaction of $53,390.00.
  • On Wednesday, March 13th, Jeffrey Pribor sold 16,000 shares of International Seaways stock. The stock was sold at an average price of $51.59, for a total transaction of $825,440.00.

International Seaways Stock Performance

INSW stock opened at $57.18 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.72 and a current ratio of 2.73. The stock has a market cap of $2.82 billion, a P/E ratio of 5.34 and a beta of -0.04. The firm has a 50 day simple moving average of $58.68 and a 200 day simple moving average of $53.14. International Seaways, Inc. has a 52 week low of $35.29 and a 52 week high of $65.94.

International Seaways (NYSE:INSWGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.38 by $0.54. The business had revenue of $274.40 million during the quarter, compared to analysts’ expectations of $249.12 million. International Seaways had a net margin of 49.88% and a return on equity of 29.74%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $3.30 earnings per share. Research analysts anticipate that International Seaways, Inc. will post 10.07 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 12.24%. The ex-dividend date of this dividend is Wednesday, June 12th. This is a positive change from International Seaways’s previous quarterly dividend of $1.20. International Seaways’s dividend payout ratio (DPR) is presently 4.49%.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock valued at $212,074,000 after acquiring an additional 286,295 shares in the last quarter. Dimensional Fund Advisors LP raised its position in International Seaways by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,198,419 shares of the transportation company’s stock valued at $145,464,000 after acquiring an additional 122,642 shares in the last quarter. Donald Smith & CO. Inc. raised its position in International Seaways by 24.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,613,803 shares of the transportation company’s stock valued at $73,396,000 after acquiring an additional 318,962 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after acquiring an additional 139,569 shares in the last quarter. Finally, American Century Companies Inc. raised its position in International Seaways by 38.1% during the third quarter. American Century Companies Inc. now owns 423,943 shares of the transportation company’s stock valued at $19,077,000 after acquiring an additional 116,923 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on INSW shares. Stifel Nicolaus raised their target price on shares of International Seaways from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. Finally, StockNews.com upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, International Seaways presently has an average rating of “Buy” and a consensus target price of $63.25.

Read Our Latest Stock Report on INSW

International Seaways Company Profile

(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.

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Insider Buying and Selling by Quarter for International Seaways (NYSE:INSW)

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