Nisa Investment Advisors LLC Sells 102,486 Shares of International Seaways Inc. (NYSE:INSW)

Nisa Investment Advisors LLC cut its holdings in International Seaways Inc. (NYSE:INSW - Free Report) by 92.4% in 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in shares of International Seaways during the 4th quarter worth $29,000. GAMMA Investing LLC raised its position in International Seaways by 105.1% in the 1st quarter. GAMMA Investing LLC now owns 1,163 shares of the transportation company's stock worth $39,000 after purchasing an additional 596 shares during the period. Quarry LP raised its position in International Seaways by 169.0% in the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after purchasing an additional 852 shares during the period. Blue Trust Inc. raised its position in International Seaways by 87.3% in the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock worth $53,000 after purchasing an additional 738 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in International Seaways by 30.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,447 shares of the transportation company's stock worth $88,000 after purchasing an additional 564 shares during the period. 67.29% of the stock is owned by institutional investors.

Insider Buying and Selling at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $37.00, for a total value of $37,000.00. Following the completion of the sale, the senior vice president directly owned 59,752 shares of the company's stock, valued at $2,210,824. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 192,771 shares of the company's stock, valued at approximately $7,444,816.02. This trade represents a 1.03% 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. Insiders own 2.00% of the company's stock.

International Seaways Stock Down 0.9%

Shares of NYSE INSW traded down $0.36 during midday trading on Friday, hitting $38.91. The stock had a trading volume of 378,329 shares, compared to its average volume of 759,326. The business's 50 day moving average is $38.35 and its 200-day moving average is $36.49. The company has a market cap of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. International Seaways Inc. has a 52 week low of $27.20 and a 52 week high of $58.73. The company has a quick ratio of 2.75, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

International Seaways (NYSE:INSW - Get Free Report) last issued 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 company had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. International Seaways had a net margin of 37.39% and a return on equity of 14.98%. The firm's revenue for the quarter was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 earnings per share. As a group, analysts predict that International Seaways Inc. will post 7.77 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.23%. International Seaways's dividend payout ratio is currently 7.42%.

Wall Street Analysts Forecast Growth

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

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.