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

Nisa Investment Advisors LLC increased its position in International Seaways, Inc. (NYSE:INSW) by 1,677.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,945 shares of the transportation company’s stock after purchasing an additional 104,704 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.23% of International Seaways worth $3,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in International Seaways during the third quarter worth $41,000. EverSource Wealth Advisors LLC raised its stake in International Seaways by 62.8% during the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock worth $44,000 after acquiring an additional 305 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in International Seaways during the third quarter worth $52,000. KBC Group NV raised its stake in International Seaways by 65.2% during the third quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares in the last quarter. Finally, Quarry LP raised its stake in International Seaways by 408.0% during the second quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after acquiring an additional 1,167 shares in the last quarter. 67.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other International Seaways news, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the transaction, the senior vice president now owns 45,687 shares in the company, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total value of $35,070.00. Following the transaction, the senior vice president now owns 49,803 shares in the company, valued at approximately $1,746,591.21. This trade represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,200 shares of company stock worth $248,012. Insiders own 1.90% of the company’s stock.

International Seaways Price Performance

Shares of INSW stock opened at $35.83 on Friday. The stock has a 50-day moving average price of $37.61 and a 200 day moving average price of $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. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 3.46 and a beta of -0.10. International Seaways, Inc. has a 12 month low of $32.11 and a 12 month high of $65.94.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. The firm had revenue of $225.20 million during 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 company’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the company earned $1.99 earnings per share. Research analysts expect that International Seaways, Inc. will post 8.14 EPS for the current year.

International Seaways Increases Dividend

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

Wall Street Analyst Weigh In

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

About International Seaways

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.