Nisa Investment Advisors LLC Trims Stock Holdings in International Seaways Inc. (NYSE:INSW)

Nisa Investment Advisors LLC reduced its stake in International Seaways Inc. (NYSE:INSW) by 92.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,459 shares of the transportation company’s stock after selling 102,486 shares during the period. Nisa Investment Advisors LLC’s holdings in International Seaways were worth $281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harvey Capital Management Inc. purchased a new stake in International Seaways in the 1st quarter valued at about $1,105,000. Pekin Hardy Strauss Inc. purchased a new stake in International Seaways in the 1st quarter valued at about $232,000. Envestnet Asset Management Inc. raised its holdings in International Seaways by 1,452.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company’s stock valued at $4,829,000 after buying an additional 136,076 shares during the period. Chilton Capital Management LLC purchased a new stake in International Seaways in the 1st quarter valued at about $166,000. Finally, Principal Financial Group Inc. raised its holdings in International Seaways by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 232,362 shares of the transportation company’s stock valued at $7,714,000 after buying an additional 7,818 shares during the period. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the completion of the transaction, the chief executive officer directly owned 192,771 shares of the company’s stock, valued at approximately $7,444,816.02. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $57,330.00. Following the transaction, the senior vice president directly owned 55,893 shares of the company’s stock, valued at approximately $2,136,230.46. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,500 shares of company stock valued at $473,730. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of International Seaways in a report on Thursday, May 8th.

International Seaways Trading Up 0.3%

Shares of INSW stock opened at $38.41 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The stock has a market capitalization of $1.89 billion, a P/E ratio of 5.94 and a beta of 0.05. The company has a 50 day moving average price of $38.27 and a 200 day moving average price of $36.43. International Seaways Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $58.73.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.21. The firm had revenue of $178.34 million during the quarter, compared to analysts’ expectations of $176.49 million. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The business’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.92 earnings per share. Equities research analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, June 12th. International Seaways’s dividend payout ratio is presently 7.42%.

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.