Insider Selling: International Seaways, Inc. (NYSE:INSW) CAO Sells $23,985.00 in Stock

International Seaways, Inc. (NYSE:INSW) CAO James D. Small III sold 500 shares of International Seaways stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $47.97, for a total transaction of $23,985.00. Following the completion of the sale, the chief accounting officer now directly owns 43,217 shares of the company’s stock, valued at approximately $2,073,119.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

International Seaways Trading Up 1.1 %

Shares of International Seaways stock opened at $46.59 on Monday. The company has a market capitalization of $2.28 billion, a P/E ratio of 3.59 and a beta of 0.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.52 and a current ratio of 2.53. The company has a fifty day moving average of $45.21 and a 200 day moving average of $41.64. International Seaways, Inc. has a fifty-two week low of $33.04 and a fifty-two week high of $53.25.

International Seaways Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 10.73%. The ex-dividend date is Tuesday, December 12th. International Seaways’s dividend payout ratio is currently 3.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BTIG Research boosted their price objective on shares of International Seaways from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, September 28th. StockNews.com downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.20.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in International Seaways in the 3rd quarter worth $28,000. Point72 Asset Management L.P. boosted its holdings in International Seaways by 55.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after buying an additional 361 shares during the period. Coppell Advisory Solutions Corp. bought a new position in International Seaways in the 4th quarter worth $46,000. Tower Research Capital LLC TRC boosted its holdings in International Seaways by 279.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company’s stock worth $50,000 after buying an additional 812 shares during the period. Finally, Compagnie Lombard Odier SCmA purchased a new stake in International Seaways in the 1st quarter worth $58,000. Institutional investors own 63.08% of the company’s stock.

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. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.