Nisa Investment Advisors LLC Acquires 104,704 Shares of International Seaways, Inc. (NYSE:INSW)

Nisa Investment Advisors LLC increased its holdings in shares of International Seaways, Inc. (NYSE:INSW) by 1,677.7% during the 4th quarter, HoldingsChannel reports. The firm owned 110,945 shares of the transportation company’s stock after purchasing an additional 104,704 shares during the period. Nisa Investment Advisors LLC’s holdings in International Seaways were worth $3,987,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Blue Trust Inc. bought a new stake in International Seaways in the 3rd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 305 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in International Seaways in the 3rd quarter valued at approximately $52,000. KBC Group NV lifted its stake in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after acquiring an additional 428 shares in the last quarter. Finally, Quarry LP lifted its stake in International Seaways by 408.0% in the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 67.29% of the company’s stock.

Insider Activity at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $43.05, for a total transaction of $43,050.00. Following the completion of the sale, the senior vice president now directly owns 51,803 shares in the company, valued at $2,230,119.15. This represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.83, for a total value of $83,660.00. Following the sale, the chief executive officer now owns 151,475 shares of the company’s stock, valued at approximately $6,336,199.25. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,200 shares of company stock worth $248,012 in the last ninety days. 1.90% of the stock is owned by company insiders.

International Seaways Stock Down 3.2 %

NYSE:INSW opened at $35.83 on Friday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 3.46 and a beta of -0.10. International Seaways, Inc. has a twelve month low of $32.11 and a twelve month high of $65.94. The stock’s 50 day moving average price is $37.61 and its two-hundred day moving average price is $45.84. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.99 EPS. Equities research analysts expect that International Seaways, Inc. will post 8.14 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 annualized dividend and a yield of 14.74%. International Seaways’s payout ratio is 4.64%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on INSW shares. Jefferies Financial Group cut their target price on International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus lowered International Seaways from a “buy” rating to a “hold” rating and lowered their price target for the stock from $69.00 to $56.00 in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Seaways presently has an average rating of “Moderate Buy” and an average target price of $60.67.

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.