EUR/USD likely to find a peak near 1.25: UBS
William F. Nugent, Senior Vice President at International Seaways, Inc. (NYSE:INSW), recently sold 1,000 shares of the company’s common stock. The transaction, executed on February 28, 2025, was carried out under a Rule 10b5-1 trading plan and fetched a total of $33,890, with each share priced at $33.89. Following this sale, Nugent retains ownership of 55,852 shares in the company. The stock, which offers a substantial 15.6% dividend yield, has declined 9% over the past week and trades near its 52-week low of $31.86. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional ProTips available to subscribers. According to InvestingPro’s comprehensive research report, the company maintains attractive valuations with a P/E ratio of 3.9x.
In other recent news, International Seaways has announced the termination of its Retiree Health and Welfare Plan, a decision made by the company’s Board of Directors. This move aims to distribute all deferred amounts under the plan to participants, aligning with the distribution requirements outlined in Treasury regulations. The termination is expected to be completed within 12 to 24 months following the decision. In another development, Stifel analysts have adjusted their price target for International Seaways stock to $38, down from $42, while maintaining a Hold rating. The analysts noted that although the company’s recent quarter was satisfactory, its performance has not matched the higher levels of previous years. Additionally, shares of International Seaways saw an increase following the U.S. government’s decision to blacklist China’s Cosco Shipping Holdings Co., which has heightened scrutiny of the marine transport sector. This move is part of a broader strategy by Washington to address concerns over China’s influence in the maritime industry. The termination of the retiree plan and the analyst’s outlook reflect ongoing adjustments within the company.
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