International Seaways Inc. (NYSE:INSW - Get Free Report) major shareholder Finance Ltd Famatown sold 38,917 shares of International Seaways stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $122.06, for a total transaction of $4,750,209.02. Following the transaction, the insider directly owned 6,565,387 shares in the company, valued at approximately $801,371,137.22. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Finance Ltd Famatown also recently made the following trade(s):
- On Wednesday, October 14th, Finance Ltd Famatown sold 64,821 shares of International Seaways stock. The stock was sold at an average price of $125.05, for a total value of $8,105,866.05.
- On Friday, October 9th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The shares were sold at an average price of $121.55, for a total value of $12,155,000.00.
- On Thursday, October 8th, Finance Ltd Famatown sold 200 shares of International Seaways stock. The shares were sold at an average price of $118.50, for a total value of $23,700.00.
- On Wednesday, October 7th, Finance Ltd Famatown sold 61,216 shares of International Seaways stock. The shares were sold at an average price of $117.08, for a total value of $7,167,169.28.
- On Tuesday, October 6th, Finance Ltd Famatown sold 66,738 shares of International Seaways stock. The shares were sold at an average price of $117.03, for a total value of $7,810,348.14.
- On Monday, October 5th, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $114.97, for a total value of $11,497,000.00.
- On Tuesday, September 22nd, Finance Ltd Famatown sold 102,000 shares of International Seaways stock. The stock was sold at an average price of $111.82, for a total value of $11,405,640.00.
- On Monday, September 21st, Finance Ltd Famatown sold 100,000 shares of International Seaways stock. The stock was sold at an average price of $111.09, for a total value of $11,109,000.00.
- On Friday, September 18th, Finance Ltd Famatown sold 15,136 shares of International Seaways stock. The stock was sold at an average price of $112.12, for a total transaction of $1,697,048.32.
International Seaways Price Performance
Shares of NYSE:INSW opened at $111.79 on Thursday. The company's 50-day moving average is $107.93 and its 200 day moving average is $84.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94. The company has a market capitalization of $5.54 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.29 and a beta of -0.14. International Seaways Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $126.27.
International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million during the quarter, compared to analyst estimates of $406.38 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. The firm's revenue for the quarter was up 138.9% on a year-over-year basis. On average, equities research analysts forecast that International Seaways Inc. will post 17.47 earnings per share for the current year.
International Seaways Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a $5.05 dividend. The ex-dividend date was Thursday, September 10th. This is a positive change from International Seaways's previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a yield of 18.1%. International Seaways's dividend payout ratio is presently 129.16%.
Wall Street Analyst Weigh In
INSW has been the subject of a number of research reports. BTIG Research increased their target price on shares of International Seaways from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, September 18th. Weiss Ratings raised shares of International Seaways from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Jefferies Financial Group lifted their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $107.00 price objective on shares of International Seaways in a research note on Tuesday, September 1st. Finally, Zacks Research upgraded International Seaways from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $109.80.
View Our Latest Analysis on International Seaways
Institutional Investors Weigh In On International Seaways
Several large investors have recently added to or reduced their stakes in INSW. BlackRock Inc. purchased a new stake in International Seaways in the 2nd quarter worth approximately $505,153,000. Arrowstreet Capital Limited Partnership grew its position in shares of International Seaways by 167.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company's stock valued at $44,330,000 after purchasing an additional 380,931 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of International Seaways during the 2nd quarter valued at $21,082,000. Empowered Funds LLC purchased a new position in shares of International Seaways during the 2nd quarter valued at $19,711,000. Finally, Acorn Financial Advisory Services Inc. ADV bought a new position in shares of International Seaways in the first quarter worth $13,145,000. Hedge funds and other institutional investors own 67.29% of the company's stock.
International Seaways Company Profile
(
Get Free Report)
International Seaways, Inc (NYSE: INSW) is a maritime transportation company that owns and operates oceangoing tankers. Its vessels transport crude oil, refined petroleum products and other energy-related cargoes for oil companies, commodity traders, refiners and other customers in international markets.
The company's fleet includes large crude carriers and product tankers serving a range of transportation needs. International Seaways operates vessels on the global waterborne energy transportation network, with routes connecting major oil-producing regions, refining centers and consuming markets.
International Seaways was established as an independent public company in 2016 following its spin-off from Overseas Shipholding Group.
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