International Seaways Inc. (NYSE:INSW) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in International Seaways Inc. (NYSE:INSW - Free Report) by 92.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,459 shares of the transportation company's stock after selling 102,486 shares during the quarter. Nisa Investment Advisors LLC's holdings in International Seaways were worth $281,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INSW. Charles Schwab Investment Management Inc. grew its position in International Seaways by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock valued at $16,662,000 after acquiring an additional 32,953 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $1,837,000. HighTower Advisors LLC boosted its stake in shares of International Seaways by 4.9% during the 4th quarter. HighTower Advisors LLC now owns 26,878 shares of the transportation company's stock valued at $966,000 after buying an additional 1,249 shares during the last quarter. Swiss National Bank boosted its stake in shares of International Seaways by 0.9% during the 4th quarter. Swiss National Bank now owns 78,100 shares of the transportation company's stock valued at $2,807,000 after buying an additional 700 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $1,121,000. Institutional investors and hedge funds own 67.29% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of International Seaways in a research note on Thursday, May 8th.

International Seaways Stock Performance

INSW traded up $0.92 during trading hours on Thursday, hitting $39.29. 583,777 shares of the stock were exchanged, compared to its average volume of 759,084. The stock has a 50-day simple moving average of $38.32 and a 200-day simple moving average of $36.46. International Seaways Inc. has a 12 month low of $27.20 and a 12 month high of $58.73. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 6.07 and a beta of 0.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 2.75.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The firm had revenue of $178.34 million for the quarter, compared to analysts' expectations of $176.49 million. During the same period last year, the business posted $2.92 earnings per share. The firm's revenue for the quarter was down 32.9% on a year-over-year basis. Analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, June 12th. International Seaways's dividend payout ratio is presently 7.42%.

Insiders Place Their Bets

In other International Seaways news, 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 value of $77,240.00. Following the sale, the chief executive officer directly owned 192,771 shares of the company's stock, valued at $7,444,816.02. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Monday, June 30th. The stock was 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 in the company, valued at $2,210,824. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock valued at $473,730 over the last three months. Company insiders own 2.00% of the company's stock.

International Seaways 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.