International Seaways, Inc. (NYSE:INSW) has reported a notable transaction by one of its directors, Douglas D. Wheat. According to the latest filings, Wheat sold a total of 5,000 shares of the company's common stock. The transaction, which took place on May 10, 2024, fetched a weighted average sale price of $61.8084 per share, resulting in a total value of approximately $309,042.
The shares were sold in multiple trades with prices ranging between $61.77 and $61.88. Following the sale, Wheat's direct ownership in the company stands at 21,056 shares of common stock. The detailed breakdown of the trade prices and the number of shares sold at each price point has been made available for review upon request by the SEC staff, the issuer, or any security holder of the issuer.
Investors often monitor insider transactions as they can provide insights into the company's performance and the confidence level of its executives and directors. The sale by a director might be of interest to shareholders and potential investors who track such activities for various strategic reasons.
International Seaways, Inc., with its ticker symbol INSW, is known for its operations in the water transportation industry. The company's stock performance and insider transactions are closely watched by market participants who seek to understand the trends and strategic decisions of its management and board members.
InvestingPro Insights
Amid the news of director Douglas D. Wheat's sale of shares in International Seaways, Inc. (NYSE:INSW), current and potential investors may find additional context in the company's recent financial performance and market standing. Here are some relevant data points and expert analysis from InvestingPro:
International Seaways boasts a robust Market Cap of approximately $3.1 billion USD, reflecting the company’s substantial size within the water transportation industry. The company's P/E Ratio stands at 5.79, which could indicate that the stock is potentially undervalued compared to industry peers, especially when considering the Price / Book ratio of 1.72 as of the last twelve months ending Q1 2024. These metrics suggest that the company's shares might be trading at a reasonable price relative to its earnings and book value.
Investors are also drawn to International Seaways for its attractive shareholder returns. An InvestingPro Tip highlights that the company has a high shareholder yield. Additionally, it has consistently rewarded its investors by raising its dividend for 4 consecutive years, with a notable Dividend Yield of 9.31% as of the current year, which is significantly higher than the average yield in the market.
The company's stock has experienced a significant return over the last week, with a 1 Week Price Total Return of 8.88%. This short-term performance is part of a larger trend, as the stock has also seen a strong return over the last year, with a 1 Year Price Total Return of 80.15%. Such robust returns may capture the attention of investors seeking growth in their portfolios.
To gain further insights and access more InvestingPro Tips, which could help in making informed investment decisions, investors can visit the dedicated page for International Seaways at https://www.investing.com/pro/INSW. Currently, there are 19 additional tips available on InvestingPro. For those considering a subscription, be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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