Nisa Investment Advisors LLC Sells 4,924 Shares of International Seaways, Inc. (NYSE:INSW)

Nisa Investment Advisors LLC trimmed its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 51.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in INSW. Federated Hermes Inc. purchased a new stake in International Seaways during the third quarter valued at about $28,000. Point72 Asset Management L.P. boosted its position in International Seaways by 55.2% during the second quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock valued at $39,000 after buying an additional 361 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in International Seaways during the fourth quarter valued at about $46,000. Tower Research Capital LLC TRC boosted its holdings in shares of International Seaways by 279.0% during the third 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 holdings in shares of International Seaways by 29.8% during the fourth 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $53.39, for a total value of $53,390.00. Following the completion of the transaction, the chief financial officer now directly owns 69,010 shares of the company’s stock, valued at $3,684,443.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $51.22, for a total transaction of $196,992.12. Following the completion of the transaction, the director now owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $53.39, for a total transaction of $53,390.00. Following the transaction, the chief financial officer now directly owns 69,010 shares of the company’s stock, valued at approximately $3,684,443.90. The disclosure for this sale can be found here. Insiders sold a total of 58,846 shares of company stock valued at $3,073,978 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

INSW has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on shares of International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group reiterated a “buy” rating and set a $66.00 target price on shares of International Seaways in a report on Thursday, February 29th. Finally, StockNews.com lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Wednesday.

International Seaways Price Performance

INSW stock opened at $53.03 on Friday. International Seaways, Inc. has a 1 year low of $34.77 and a 1 year high of $55.59. The company has a market cap of $2.59 billion, a P/E ratio of 4.71 and a beta of -0.05. The firm has a 50-day moving average of $52.64 and a 200 day moving average of $49.36. 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 (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. On average, sell-side analysts forecast that International Seaways, Inc. will post 9.27 EPS for the current year.

International Seaways Dividend Announcement

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

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.