International Seaways (NYSE:INSW) Sets New 52-Week High at $31.18

International Seaways, Inc. (NYSE:INSWGet Rating) reached a new 52-week high on Monday . The company traded as high as $31.18 and last traded at $31.14, with a volume of 16876 shares trading hands. The stock had previously closed at $29.68.

Analysts Set New Price Targets

A number of research firms have recently commented on INSW. Clarkson Capital restated a “buy” rating on shares of International Seaways in a research report on Tuesday, June 14th. BTIG Research upgraded International Seaways from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, July 27th. Stifel Nicolaus raised their target price on International Seaways from $27.00 to $31.00 in a research report on Tuesday, July 19th. StockNews.com upgraded International Seaways from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Finally, Jefferies Financial Group lifted their price objective on International Seaways from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and an average price target of $32.00.

International Seaways Trading Down 5.2 %

The stock has a market cap of $1.46 billion, a PE ratio of -29.43 and a beta of 0.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50-day moving average price is $23.96 and its 200 day moving average price is $21.57.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 13th. International Seaways’s payout ratio is -48.00%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CAO James D. Small III sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $23.38, for a total value of $444,220.00. Following the sale, the chief accounting officer now owns 47,222 shares of the company’s stock, valued at $1,104,050.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other International Seaways news, CAO James D. Small III sold 19,000 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $23.38, for a total value of $444,220.00. Following the completion of the transaction, the chief accounting officer now owns 47,222 shares in the company, valued at $1,104,050.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas D. Wheat sold 20,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $30.85, for a total transaction of $617,000.00. Following the completion of the transaction, the director now owns 62,504 shares of the company’s stock, valued at approximately $1,928,248.40. The disclosure for this sale can be found here. Insiders have sold a total of 48,000 shares of company stock valued at $1,262,360 over the last quarter. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Seaways

A number of institutional investors and hedge funds have recently modified their holdings of INSW. Brightlight Capital Management LP acquired a new position in shares of International Seaways during the first quarter worth $20,511,000. Greenlight Capital Inc. acquired a new position in shares of International Seaways during the first quarter worth $18,455,000. Millennium Management LLC acquired a new position in shares of International Seaways during the second quarter worth $17,047,000. Philosophy Capital Management LLC acquired a new position in shares of International Seaways during the fourth quarter worth $3,527,000. Finally, 683 Capital Management LLC acquired a new position in shares of International Seaways during the fourth quarter worth $2,348,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

About International Seaways

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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, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels.

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