International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent Sells 1,000 Shares

International Seaways, Inc. (NYSE:INSW) SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.89, for a total transaction of $33,890.00. Following the transaction, the senior vice president now directly owns 55,852 shares of the company’s stock, valued at $1,892,824.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Seaways Trading Down 1.9 %

INSW opened at $33.71 on Thursday. International Seaways, Inc. has a twelve month low of $31.70 and a twelve month high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $37.65 and a 200-day moving average of $42.72. The stock has a market cap of $1.66 billion, a PE ratio of 3.26 and a beta of -0.11.

International Seaways Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s payout ratio is 5.72%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On International Seaways

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in International Seaways by 4.3% in the third quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company’s stock worth $48,650,000 after purchasing an additional 38,871 shares during the period. Kingsview Wealth Management LLC acquired a new stake in International Seaways in the third quarter worth $2,161,000. Charles Schwab Investment Management Inc. grew its holdings in International Seaways by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company’s stock worth $22,205,000 after purchasing an additional 32,825 shares during the period. Barclays PLC grew its holdings in International Seaways by 206.3% in the third quarter. Barclays PLC now owns 259,393 shares of the transportation company’s stock worth $13,374,000 after purchasing an additional 174,695 shares during the period. Finally, FMR LLC grew its holdings in International Seaways by 221.0% in the third quarter. FMR LLC now owns 602,213 shares of the transportation company’s stock worth $31,050,000 after purchasing an additional 414,610 shares during the period. 67.29% of the stock is currently owned by institutional investors and hedge funds.

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.