Nuveen Asset Management LLC Sells 40,456 Shares of International Seaways, Inc. (NYSE:INSW)

Nuveen Asset Management LLC cut its stake in International Seaways, Inc. (NYSE:INSW - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,817 shares of the transportation company's stock after selling 40,456 shares during the period. Nuveen Asset Management LLC owned approximately 0.58% of International Seaways worth $10,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in International Seaways in the 4th quarter valued at $29,000. Larson Financial Group LLC acquired a new position in shares of International Seaways during the 4th quarter worth $37,000. Quarry LP raised its holdings in shares of International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company's stock worth $49,000 after buying an additional 852 shares in the last quarter. R Squared Ltd acquired a new position in shares of International Seaways during the 4th quarter worth $59,000. Finally, KBC Group NV raised its holdings in shares of International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company's stock worth $62,000 after buying an additional 653 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $38.15, for a total value of $76,300.00. Following the completion of the sale, the chief executive officer now directly owns 196,771 shares of the company's stock, valued at approximately $7,506,813.65. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of 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. Insiders have sold 14,900 shares of company stock worth $513,716 in the last quarter. Insiders own 2.00% of the company's stock.

International Seaways Stock Up 0.9%

Shares of NYSE INSW traded up $0.34 during midday trading on Thursday, hitting $36.64. 438,541 shares of the stock traded hands, compared to its average volume of 746,725. International Seaways, Inc. has a one year low of $27.20 and a one year high of $65.32. The business has a 50 day moving average price of $34.43 and a two-hundred day moving average price of $36.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market cap of $1.81 billion, a PE ratio of 3.54 and a beta of -0.01.

International Seaways (NYSE:INSW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.21. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $178.34 million for the quarter, compared to the consensus estimate of $176.49 million. During the same quarter in the prior year, the company posted $2.92 earnings per share. The business's revenue was down 32.9% on a year-over-year basis. On average, equities 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 will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, June 12th. International Seaways's payout ratio is presently 7.42%.

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.