Nisa Investment Advisors LLC Reduces Position in International Seaways, Inc. (NYSE:INSW)

Nisa Investment Advisors LLC cut its position in shares of International Seaways, Inc. (NYSE:INSW) by 51.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,630 shares of the transportation company’s stock after selling 4,924 shares during the period. Nisa Investment Advisors LLC’s holdings in International Seaways were worth $211,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INSW. Federated Hermes Inc. purchased a new position in shares of International Seaways during the 3rd quarter worth about $28,000. Point72 Asset Management L.P. boosted its stake in shares of International Seaways by 55.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after purchasing an additional 361 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of International Seaways during the 4th quarter worth about $46,000. Tower Research Capital LLC TRC boosted its stake in shares of International Seaways by 279.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,103 shares of the transportation company’s stock worth $50,000 after purchasing an additional 812 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of International Seaways by 29.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock worth $62,000 after purchasing an additional 384 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Price Performance

International Seaways stock opened at $53.03 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 4.71 and a beta of -0.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37. International Seaways, Inc. has a 1 year low of $34.77 and a 1 year high of $55.59. The firm has a 50-day moving average of $52.64 and a two-hundred day moving average of $49.36.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The firm had revenue of $250.73 million during the quarter, compared to analysts’ expectations of $239.36 million. On average, research analysts forecast that International Seaways, Inc. will post 9.27 earnings per share for the current year.

International Seaways Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 9.05%. International Seaways’s payout ratio is presently 4.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INSW shares. StockNews.com cut shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a research report on Thursday, February 29th. Finally, Stifel Nicolaus boosted their price objective on shares of International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday.

Insider Transactions at International Seaways

In other news, Director Alexandra Kate Blankenship sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the director now owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Alexandra Kate Blankenship sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $53.09, for a total value of $318,540.00. Following the completion of the sale, the director now owns 19,098 shares of the company’s stock, valued at approximately $1,013,912.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the transaction, the chief financial officer now owns 82,161 shares of the company’s stock, valued at approximately $4,361,927.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock valued at $3,073,978. Company insiders own 2.00% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.