Key Points
- CEO Lois Zabrocky sold 2,000 shares of International Seaways at an average price of $108.01, generating $216,020. She retains 171,745 shares valued at approximately $18.55 million.
- International Seaways reported strong quarterly results, with EPS of $5.91 beating estimates and revenue rising 138.9% year over year to $467.29 million.
- The company increased its quarterly dividend to $5.05 per share, implying a 18.5% yield, while analysts maintain a “Moderate Buy” consensus rating.
International Seaways Inc. (NYSE:INSW - Get Free Report) CEO Lois Zabrocky sold 2,000 shares of International Seaways stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total transaction of $216,020.00. Following the transaction, the chief executive officer directly owned 171,745 shares in the company, valued at approximately $18,550,177.45. This trade represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
International Seaways Stock Performance
Shares of INSW stock opened at $109.46 on Thursday. The company's fifty day simple moving average is $95.83 and its 200-day simple moving average is $84.76. International Seaways Inc. has a 52 week low of $42.26 and a 52 week high of $111.94. The company has a current ratio of 5.94, a quick ratio of 5.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.42 billion, a PE ratio of 7.00, a P/E/G ratio of 0.28 and a beta of -0.13.
International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The firm had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. During the same period in the prior year, the firm earned $1.02 EPS. The firm's quarterly revenue was up 138.9% compared to the same quarter last year. As a group, equities research analysts anticipate that International Seaways Inc. will post 16.09 EPS for the current year.
International Seaways Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $5.05 per share. This is a boost from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $20.20 annualized dividend and a yield of 18.5%. International Seaways's dividend payout ratio is presently 129.16%.
Institutional Trading of International Seaways
A number of institutional investors and hedge funds have recently modified their holdings of INSW. Tidal Investments LLC lifted its position in shares of International Seaways by 59.3% in the 2nd quarter. Tidal Investments LLC now owns 51,034 shares of the transportation company's stock worth $3,909,000 after buying an additional 18,996 shares during the last quarter. Arlington Capital Management Inc. bought a new stake in shares of International Seaways during the 2nd quarter valued at about $219,000. Engineers Gate Manager LP raised its stake in International Seaways by 43.8% during the second quarter. Engineers Gate Manager LP now owns 13,375 shares of the transportation company's stock worth $1,024,000 after acquiring an additional 4,075 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in International Seaways during the second quarter worth about $92,000. Finally, NewEdge Advisors LLC lifted its holdings in International Seaways by 14.2% in the second quarter. NewEdge Advisors LLC now owns 11,164 shares of the transportation company's stock worth $855,000 after acquiring an additional 1,390 shares during the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $107.00 target price on shares of International Seaways in a research report on Tuesday, September 1st. BTIG Research raised their target price on International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of International Seaways in a research report on Friday, August 7th. Jefferies Financial Group upped their price target on shares of International Seaways from $100.00 to $108.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Zacks Research lowered shares of International Seaways from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $94.75.
Read Our Latest Stock Report on International Seaways
About International Seaways
(
Get Free Report)
International Seaways, Inc is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.
The company's vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.
International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.
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