Procore signs multi-year strategic collaboration agreement with AWS
Lois Zabrocky, the President and CEO of International Seaways, Inc. (NYSE:INSW), sold 2,000 shares of the company’s common stock on February 18, 2025. The company, currently valued at $1.88 billion, has demonstrated strong financial health with a notable dividend yield of ~15% and trades below its InvestingPro Fair Value. The shares were sold at a weighted average price of $38.7031, totaling approximately $77,406. This transaction was carried out under a Rule 10b5-1 trading plan, which Zabrocky had executed on May 10, 2024. Following this sale, Zabrocky holds 145,045 shares directly. The transaction was executed in multiple trades with prices ranging from $38.4600 to $38.9800. According to InvestingPro analysis, INSW stock often moves independently of the market, with analysts setting price targets ranging from $42 to $82. For deeper insights into INSW’s valuation and future prospects, explore the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, International Seaways has announced the termination of its Retiree Health and Welfare Plan, a decision made by the Board of Directors to distribute all deferred amounts to participants. The termination aligns with regulatory requirements and is part of the company’s ongoing adjustments to compensatory arrangements for certain officers. Additionally, International Seaways has seen a significant change in its board leadership as Douglas Wheat resigned as Chairman of the Board, with Captain Ian Blackley stepping into the role. Wheat’s departure was amicable, and he has been named Chairman Emeritus, allowing the company to continue leveraging his expertise. Meanwhile, the board size has been reduced from 10 to 9 directors, a move that aligns with shareholder suggestions. These changes come as International Seaways continues to focus on governance and strategic direction. In related developments, US-based shipping companies, including International Seaways, experienced a rise in stock value following the US government’s decision to blacklist China’s Cosco Shipping Holdings Co. This move is part of a broader strategy to address concerns over China’s growing influence in the maritime sector.
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