Nomura Holdings Inc. Reduces Position in International Seaways, Inc. (NYSE:INSW)

Nomura Holdings Inc. lowered its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 60.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,008 shares of the transportation company's stock after selling 20,190 shares during the quarter. Nomura Holdings Inc.'s holdings in International Seaways were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of International Seaways by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 4,759,119 shares of the transportation company's stock valued at $171,043,000 after acquiring an additional 369,145 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of International Seaways by 9.8% in the 4th quarter. American Century Companies Inc. now owns 1,632,753 shares of the transportation company's stock valued at $58,681,000 after acquiring an additional 146,145 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of International Seaways by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 948,144 shares of the transportation company's stock valued at $34,084,000 after purchasing an additional 4,769 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of International Seaways by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,611 shares of the transportation company's stock valued at $16,662,000 after purchasing an additional 32,953 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of International Seaways by 1.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 429,889 shares of the transportation company's stock valued at $15,450,000 after purchasing an additional 7,325 shares during the period. Hedge funds and other institutional investors own 67.29% of the company's stock.

International Seaways Stock Performance

Shares of NYSE INSW traded up $0.52 during trading hours on Tuesday, reaching $37.87. The stock had a trading volume of 580,261 shares, compared to its average volume of 746,264. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 3.66 and a beta of -0.01. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. International Seaways, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $65.94. The firm has a 50-day moving average of $34.34 and a 200-day moving average of $36.36.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share (EPS) 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 return on equity of 24.65% and a net margin of 50.91%. The business's revenue was down 32.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.92 EPS. Equities research analysts predict that International Seaways, Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.27%. International Seaways's payout ratio is 7.42%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the completion of the sale, the senior vice president now directly owns 55,852 shares of the company's stock, valued at approximately $1,892,824.28. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the sale, the senior vice president now directly owns 50,453 shares of the company's stock, valued at $1,684,625.67. The trade was a 8.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,900 shares of company stock valued at $513,716. 2.00% of the stock is owned by company insiders.

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.