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

Nisa Investment Advisors LLC increased its holdings in International Seaways, Inc. (NYSE:INSW - Free Report) by 1,677.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,945 shares of the transportation company's stock after acquiring an additional 104,704 shares during the period. Nisa Investment Advisors LLC owned about 0.23% of International Seaways worth $3,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in International Seaways by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 943,375 shares of the transportation company's stock worth $48,650,000 after purchasing an additional 38,871 shares in the last quarter. FMR LLC lifted its holdings in shares of International Seaways by 221.0% in the 3rd quarter. FMR LLC now owns 602,213 shares of the transportation company's stock worth $31,050,000 after acquiring an additional 414,610 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Seaways by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 430,658 shares of the transportation company's stock worth $22,205,000 after purchasing an additional 32,825 shares during the last quarter. Millennium Management LLC purchased a new stake in International Seaways during the 2nd quarter valued at about $21,875,000. Finally, Barclays PLC raised its holdings in International Seaways by 206.3% during the 3rd quarter. Barclays PLC now owns 259,393 shares of the transportation company's stock valued at $13,374,000 after buying an additional 174,695 shares during the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Stock Performance

INSW traded down $1.17 during trading on Friday, hitting $35.83. The company's stock had a trading volume of 977,846 shares, compared to its average volume of 1,226,424. The business's 50 day simple moving average is $37.61 and its 200-day simple moving average is $45.76. The firm has a market cap of $1.76 billion, a PE ratio of 3.46 and a beta of -0.10. International Seaways, Inc. has a one year low of $32.11 and a one year high of $65.94. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.15. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The company had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the company posted $1.99 EPS. The firm's revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that International Seaways, Inc. will post 8.14 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.32 per share. This is a positive change from International Seaways's previous quarterly dividend of $0.12. The ex-dividend date was Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.74%. International Seaways's dividend payout ratio is currently 4.64%.

Insider Activity at International Seaways

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $41.83, for a total value of $83,660.00. Following the sale, the chief executive officer now directly owns 151,475 shares in the company, valued at $6,336,199.25. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $43.05, for a total transaction of $43,050.00. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares of the company's stock, valued at approximately $2,230,119.15. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,200 shares of company stock valued at $248,012. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.