Procore signs multi-year strategic collaboration agreement with AWS
International Seaways, Inc. (NYSE:INSW), a $1.69 billion market cap shipping company with a "GREAT" financial health rating according to InvestingPro, saw its President and CEO Lois K. Zabrocky recently sell 2,000 shares of common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $34.6617, with prices ranging from $34.24 to $35.00, totaling $69,323. The transaction occurred with the stock trading at a P/E ratio of 4.07 and offering a substantial 15% dividend yield. Following this transaction, Zabrocky holds 179,557 shares of the company. The sale was conducted under a Rule 10b5-1 trading plan established in May 2024. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value estimate, with 6 additional ProTips available to subscribers.
In other recent news, International Seaways, Inc. has announced adjustments to executive compensation, effective retroactively from January 1, 2025. The changes include increased base salaries and revised annual equity target opportunities for several top executives, as outlined in a recent SEC Form 8-K filing. Additionally, Stifel analysts have adjusted their price target for International Seaways’ stock to $38.00 from $42.00, maintaining a Hold rating. The analysts noted that while the company’s recent results are satisfactory, they expect it to maintain mid-cycle levels without significant upward momentum in earnings and dividends.
In another development, International Seaways has decided to terminate its Retiree Health and Welfare Plan, aiming to distribute all deferred amounts to participants. This decision, enacted by the Board of Directors, is part of the company’s ongoing adjustments to its compensatory arrangements. Meanwhile, the US government’s decision to blacklist China’s Cosco Shipping Holdings Co. has led to a notable increase in the stocks of several American shipping firms, including International Seaways, which climbed 6.4%. The blacklist is part of a broader strategy to address concerns over China’s influence in the maritime sector. These recent developments indicate ongoing strategic and operational adjustments within International Seaways.
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