In a recent transaction on April 1st, Jeffrey Pribor, the Senior Vice President and Chief Financial Officer of International Seaways, Inc. (NYSE:INSW), sold 1,000 shares of the company's common stock. The shares were sold at a price of $53.39 each, totaling $53,390.
This sale was conducted under a Rule 10b5-1 trading plan, which was previously established by Pribor on June 6, 2023. Such plans allow company insiders to set up predetermined trading arrangements for selling stocks at a future date, providing a legal framework to plan transactions without facing potential accusations of insider trading.
Following the transaction, Pribor still owns a significant amount of company stock, with 69,010 shares remaining in his possession. The sale represents a minor portion of his holdings, indicating a continued vested interest in the company's performance.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's future valuation. However, it is important to note that these sales and purchases can be influenced by various personal financial considerations and not solely by corporate performance.
International Seaways, Inc. is a prominent player in the global maritime industry, specializing in the transportation of crude oil and petroleum products. As such, the company's stock performance is closely tied to the dynamics of the energy market and global trade flows.
The details of the transaction have been duly filed with the Securities and Exchange Commission and are available for public review.
InvestingPro Insights
Amidst the insider transaction news, International Seaways, Inc. (NYSE:INSW) continues to present a compelling case for investors, as highlighted by several metrics and InvestingPro Tips. The company's market cap stands at a robust $2.63 billion, and it boasts an attractive P/E ratio of 4.76, which further adjusts to 4.98 when considering the last twelve months as of Q4 2023. This low P/E ratio, particularly in relation to near-term earnings growth, is a sign of potential undervaluation.
InvestingPro Tips suggest that International Seaways has been consistent in rewarding its shareholders, having raised its dividend for four consecutive years. Moreover, the company is noted for its high shareholder yield and has been trading at a price that is 98.64% of its 52-week high, indicating strong market confidence. These factors, combined with a dividend yield of 10.35%, make INSW an attractive stock for income-focused investors.
Furthermore, analysts have revised their earnings expectations upwards for the upcoming period, which could signal a positive outlook for the company's financial performance. Additionally, International Seaways has been profitable over the last twelve months and analysts predict it will remain profitable this year.
For investors seeking more in-depth analysis and additional insights, there are a total of 16 InvestingPro Tips available for International Seaways on the InvestingPro platform. These can provide a more granular view of the company's financial health and market positioning. Interested readers 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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.