International Seaways, Inc. (NYSE:INSW) reported a recent sale of shares by one of its key executives. The company's Vice President & Controller, Oshodi Adewale, sold 100 shares at a price of $62.1 each, totaling over $6,210.
The sale was executed on May 13, 2024, and was disclosed in a regulatory filing with the Securities and Exchange Commission the following day. Following the transaction, Adewale still owns a total of 6,226 shares in International Seaways, indicating a continued investment in the company's future despite the recent sale.
Investors often monitor insider transactions as they can provide insights into the company's performance and the confidence level of its executives. However, it's important to note that such transactions can be subject to various personal financial considerations and do not always reflect a change in company outlook.
International Seaways, a leader in the maritime transportation of crude oil and petroleum products, is incorporated in the Transportation sector under the Water Transportation industry. The company's stock trades on the New York Stock Exchange under the ticker symbol NYSE:INSW.
Shareholders and potential investors are encouraged to review the company's filings for a more comprehensive understanding of its financial activities and insider transactions.
InvestingPro Insights
International Seaways, Inc. (NYSE:INSW) has demonstrated a strong financial performance, with a notable increase in shareholder returns. According to the latest data from InvestingPro, the company boasts a market capitalization of $3.1 billion and a compelling P/E ratio of 5.79, suggesting that the stock may be undervalued compared to earnings.
InvestingPro Tips highlight that International Seaways has not only raised its dividend for four consecutive years but also pays a significant dividend to shareholders, with a current yield of 9.31%. This commitment to returning value to shareholders is further reflected in the company's high shareholder yield. Additionally, six analysts have revised their earnings estimates upwards for the upcoming period, indicating potential optimism regarding the company's future earnings capacity.
The company's stock has experienced a significant return over the last week, with a price total return of 8.88%, and an impressive 80.15% return over the past year. This robust performance is underscored by the stock trading near its 52-week high, at 99.84% of the peak price. For investors interested in further insights, there are additional InvestingPro Tips available, which can be accessed through the dedicated InvestingPro page for International Seaways: https://www.investing.com/pro/INSW. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering even more valuable insights for informed investment decisions.
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