International Seaways, Inc. (NYSE:INSW) has reported a recent transaction by its President and CEO, Lois K. Zabrocky, involving the sale of company stock. On May 1, 2024, Zabrocky sold 1,000 shares of International Seaways common stock, realizing over $54,000 from the sale.
The transaction took place through a series of trades with prices ranging between $54.54 and $55.42. The reported price of $54.8835 represents the weighted average sale price of the shares. Following this sale, Zabrocky still holds a significant stake in the company with 159,475 shares remaining in her possession.
This sale was conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Zabrocky had entered into on March 8, 2023. Such plans allow company insiders to establish predetermined trading arrangements for selling stocks at a later date, a practice that helps to avoid concerns about transactions based on non-public information.
Investors and followers of International Seaways may request detailed information about the exact number of shares sold at each price point from Zabrocky, the SEC staff, or the issuer itself.
The reported transaction was signed off by James D. Small III, Attorney-in-Fact, on May 3, 2024, as per the filing documentation.
InvestingPro Insights
Amidst the news of International Seaways, Inc.'s (NYSE:INSW) CEO's recent stock sale, investors are considering various financial metrics and trends to assess the company's current market position. According to InvestingPro, International Seaways has a strong shareholder yield, which is a positive indicator for those interested in shareholder returns. This is underscored by the fact that the company has raised its dividend for four consecutive years, reflecting a commitment to returning value to shareholders.
On the financial front, International Seaways boasts a market capitalization of $2.74 billion, and the stock is trading at a low P/E ratio of 4.94, which could suggest that the shares are undervalued relative to near-term earnings growth. This is further supported by a PEG ratio of 0.11 for the last twelve months as of Q4 2023, indicating potential for earnings growth compared to the company's share price. Additionally, the company's dividend yield as of the latest data stands at a significant 10.06%, which is attractive for income-focused investors.
For those looking to delve deeper into International Seaways' performance and financial health, InvestingPro offers additional insights. There are currently 15 more InvestingPro Tips available for International Seaways, which can provide a more comprehensive understanding of the company's investment potential. Interested readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.