International Seaways, Inc. (NYSE:INSW) President and CEO, Lois K. Zabrocky, sold 1,000 shares of company stock on April 1, according to a recent filing with the Securities and Exchange Commission. The transaction was executed at a weighted average price of $54.15 per share, with individual trades ranging between $53.56 and $54.54. The total value of the shares sold by Zabrocky amounts to approximately $54,153.
Following the sale, Zabrocky's ownership in the company stands at 139,598 shares of common stock. The filing indicated that the sale was part of a pre-arranged trading plan set up on March 8, 2023, under Rule 10b5-1, which allows company insiders to establish predetermined trading plans for selling stocks.
This sale comes as part of routine transactions by corporate executives, which are often scheduled in advance to avoid any potential conflicts of interest or accusations of insider trading. Investors and the market typically monitor these sales for insights into executives' perspectives on their company's future performance, although such transactions do not always indicate a change in company outlook.
The details of the transaction, including the range of prices at which the stock was sold, can be provided upon request to the SEC staff, the issuer, or a security holder of the issuer, as stated in the footnotes of the SEC filing.
International Seaways, Inc., headquartered in New York, operates in the water transportation sector, providing energy transportation services for crude oil and petroleum products. As with all trading activities of this nature, investors keep an eye on the filings to stay informed about the movements of company insiders.
InvestingPro Insights
As International Seaways, Inc. (NYSE:INSW) navigates the dynamic waters of the energy transportation sector, the company's financial health and stock performance continue to be of keen interest to investors. According to real-time data from InvestingPro, International Seaways boasts a robust Market Cap of approximately $2.63 billion USD, reflecting a solid position in the industry. The company's P/E Ratio stands at an attractive 4.76, suggesting that the stock may be undervalued relative to its earnings. This is further supported by a P/E Ratio (Adjusted) for the last twelve months as of Q4 2023, which is only slightly higher at 4.98.
InvestingPro Tips highlight International Seaways' strong shareholder yield, which can be particularly appealing for income-focused investors. The company has not only raised its dividend for 4 consecutive years but also offers a significant dividend to shareholders, with a Dividend Yield of 10.35% as of the latest data. Additionally, the stock generally trades with low price volatility, providing a degree of stability in an investor's portfolio.
For those considering a deeper dive into International Seaways' financial performance and stock potential, InvestingPro provides a wealth of additional tips. In fact, there are 15 more InvestingPro Tips available, which can be accessed through the dedicated InvestingPro page for International Seaways (https://www.investing.com/pro/INSW). These tips cover a range of metrics from earnings revisions by analysts to the stock's historical returns, offering a comprehensive view of the company's outlook.
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