Nisa Investment Advisors LLC Acquires 11,900 Shares of International Seaways, Inc. (NYSE:INSW)

Posted by on Apr 29th, 2023

Nisa Investment Advisors LLC boosted its holdings in International Seaways, Inc. (NYSE:INSW – Get Rating) by 36,060.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,933 shares of the transportation company’s stock after purchasing an additional 11,900 shares during the period. Nisa Investment Advisors LLC’s holdings in International Seaways were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in INSW. Bailard Inc. bought a new position in shares of International Seaways during the fourth quarter valued at about $218,000. ProShare Advisors LLC bought a new position in shares of International Seaways during the fourth quarter valued at about $232,000. State of New Jersey Common Pension Fund D bought a new position in shares of International Seaways during the fourth quarter valued at about $2,003,000. Gladstone Institutional Advisory LLC raised its stake in shares of International Seaways by 80.4% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 15,209 shares of the transportation company’s stock valued at $563,000 after acquiring an additional 6,778 shares during the last quarter. Finally, Alpha DNA Investment Management LLC raised its stake in shares of International Seaways by 81.9% during the fourth quarter. Alpha DNA Investment Management LLC now owns 29,068 shares of the transportation company’s stock valued at $1,076,000 after acquiring an additional 13,087 shares during the last quarter. 84.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the sale, the chief financial officer now owns 65,594 shares in the company, valued at $2,564,725.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $39.10, for a total transaction of $39,100.00. Following the sale, the chief financial officer now owns 65,594 shares in the company, valued at $2,564,725.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $49.36, for a total transaction of $74,040.00. Following the sale, the senior vice president now owns 30,648 shares in the company, valued at approximately $1,512,785.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,900 shares of company stock worth $2,083,044. 2.90% of the stock is currently owned by company insiders.

International Seaways Price Performance

Shares of INSW opened at $39.82 on Friday. The stock has a market cap of $1.96 billion, a PE ratio of 5.11 and a beta of 0.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.49 and a current ratio of 2.50. International Seaways, Inc. has a fifty-two week low of $17.89 and a fifty-two week high of $53.25. The firm’s 50-day simple moving average is $43.42 and its two-hundred day simple moving average is $41.46.

International Seaways (NYSE:INSW – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The transportation company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.84 by $0.37. The business had revenue of $338.16 million for the quarter, compared to analysts’ expectations of $311.42 million. International Seaways had a net margin of 44.86% and a return on equity of 29.13%. Analysts anticipate that International Seaways, Inc. will post 8.82 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 20.09%. The ex-dividend date was Monday, March 13th. This is a boost from International Seaways’s previous quarterly dividend of $1.12. International Seaways’s dividend payout ratio is 6.15%.

Analyst Ratings Changes

Several equities analysts have recently commented on INSW shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $64.00 price objective on shares of International Seaways in a research note on Tuesday, March 21st. Stifel Nicolaus upped their price objective on shares of International Seaways from $60.00 to $65.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of International Seaways from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 6th. B. Riley increased their price target on shares of International Seaways from $60.00 to $70.00 in a research note on Wednesday, March 1st. Finally, StockNews.com started coverage on shares of International Seaways in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $61.40.

International Seaways Company Profile

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International Seaways, Inc engages in the transportation of crude oil and petroleum products. It operates through the following segments: Crude Tankers and Product Carriers. The Crude Tankers segment consists of a fleet of vessels that transport unrefined petroleum. The Product Carriers segment focuses on crude and refined petroleum products.

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Institutional Ownership by Quarter for International Seaways (NYSE:INSW)

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