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 the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $34.66, for a total transaction of $69,320.00. Following the completion of the transaction, the chief executive officer now owns 179,557 shares in the company, valued at approximately $6,223,445.62. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

International Seaways Price Performance

NYSE INSW opened at $34.31 on Wednesday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $37.20 and a 200 day simple moving average of $41.54. The company has a market cap of $1.69 billion, a P/E ratio of 3.31 and a beta of -0.17. International Seaways, Inc. has a 1 year low of $31.70 and a 1 year high of $65.94.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 14th. International Seaways’s dividend payout ratio is currently 5.72%.

Institutional Trading of International Seaways

Hedge funds have recently bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in International Seaways in the 4th quarter valued at $29,000. Larson Financial Group LLC bought a new stake in International Seaways in the 4th quarter valued at $37,000. Quarry LP boosted its holdings in International Seaways by 169.0% in 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 during the period. Sunbelt Securities Inc. bought a new stake in International Seaways in the 3rd quarter valued at $52,000. Finally, KBC Group NV boosted its holdings in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 428 shares during the period. 67.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on INSW. 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 restated a “buy” rating and set a $58.00 price target on shares of International Seaways in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and an average target price 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.