In a recent move that has caught the attention of investors, International Seaways, Inc. (NYSE:INSW) Director Nadim Z. Qureshi sold a significant number of shares in the company. The transaction, which took place on March 13, involved the sale of 5,297 shares of common stock at a weighted average price of $51.7692, resulting in a total transaction value of approximately $274,221.
The sale was executed in multiple trades with prices ranging between $51.65 and $51.94. Following this transaction, Qureshi's direct ownership in the company stands at 19,801 shares. The details of the specific trades, including the number of shares sold at each price, are available upon request from the SEC staff, the issuer, or a security holder of the issuer.
International Seaways, Inc., headquartered in New York, operates in the water transportation sector and is known for its global oil and petroleum transportation services. This transaction comes amidst the company's ongoing business developments and market activities.
Investors and market watchers often look to the buying and selling activities of company insiders as indicators of confidence and potential future performance. The sale by Director Qureshi may be of interest to those following International Seaways' stock and assessing the company's position in the industry.
For further information regarding the specifics of the transaction, interested parties are encouraged to refer to the full disclosure provided by the company.
InvestingPro Insights
Amidst the insider trading activity at International Seaways, Inc. (NYSE:INSW), investors may find the latest metrics and trends provided by InvestingPro particularly illuminating. The company's strong financial performance is highlighted by a robust P/E ratio of 4.61, suggesting that the stock is trading at a low price relative to near-term earnings growth. This is further corroborated by an adjusted P/E ratio of 4.82 for the last twelve months as of Q4 2023.
International Seaways has been recognized by InvestingPro for its consistent dividend payouts, having raised its dividend for four consecutive years, and currently offers a significant dividend yield of 10.77%. This level of shareholder return is a noteworthy aspect of the company's financial health, especially when considering the impressive dividend growth of 279.05% over the last twelve months as of Q4 2023.
Moreover, the company's stock price has experienced a substantial uptick over the last six months, with a 34.24% price total return, and a year-to-date price total return of 17.54%. These figures underscore the company's strong performance in the market, even as it trades near its 52-week high with a price 94.81% of that peak. The InvestingPro platform provides additional insights, with 14 more InvestingPro Tips available, offering a comprehensive analysis for those interested in a deeper dive into INSW's financials and market behavior.
Investors seeking to leverage these insights and optimize their investment strategies can take advantage of a special offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
With the next earnings date set for May 2, 2024, and analysts revising their earnings upwards for the upcoming period, stakeholders have much to consider when evaluating International Seaways' future prospects. The company's moderate level of debt and the fact that liquid assets exceed short-term obligations further contribute to a solid financial foundation, as indicated in the available InvestingPro Tips.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.