Overseas Shipholding Group (NYSE:OSG) Sees Large Volume Increase

Overseas Shipholding Group, Inc. (NYSE:OSG) saw an uptick in trading volume on Tuesday . 1,180,992 shares were traded during mid-day trading, an increase of 117% from the previous session’s volume of 543,366 shares.The stock last traded at $8.43 and had previously closed at $8.42.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded Overseas Shipholding Group from a “c” rating to a “b-” rating in a report on Wednesday, February 14th.

Overseas Shipholding Group Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average of $6.39 and a 200-day moving average of $5.82. The stock has a market capitalization of $605.77 million, a price-to-earnings ratio of 10.26 and a beta of 0.39.

Overseas Shipholding Group (NYSE:OSG) last announced its earnings results on Friday, May 10th. The transportation company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $117.50 million during the quarter. Overseas Shipholding Group had a return on equity of 18.38% and a net margin of 14.26%.

Overseas Shipholding Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, March 27th. Overseas Shipholding Group’s dividend payout ratio is currently 29.27%.

Insiders Place Their Bets

In other news, CEO Samuel H. Norton sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $6.05, for a total transaction of $302,500.00. Following the completion of the sale, the chief executive officer now owns 2,352,388 shares in the company, valued at $14,231,947.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Samuel H. Norton sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $6.05, for a total value of $302,500.00. Following the completion of the sale, the chief executive officer now owns 2,352,388 shares in the company, valued at $14,231,947.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samuel H. Norton sold 20,337 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $5.98, for a total transaction of $121,615.26. Following the completion of the transaction, the chief executive officer now directly owns 2,537,142 shares of the company’s stock, valued at $15,172,109.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,337 shares of company stock valued at $761,115. 9.29% of the stock is owned by company insiders.

Institutional Trading of Overseas Shipholding Group

Several large investors have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in shares of Overseas Shipholding Group during the 4th quarter worth about $29,000. Tower Research Capital LLC TRC grew its position in shares of Overseas Shipholding Group by 255.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,915 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 4,969 shares during the period. AJOVista LLC acquired a new stake in Overseas Shipholding Group in the 4th quarter worth about $60,000. Principal Financial Group Inc. purchased a new stake in Overseas Shipholding Group in the 1st quarter valued at about $114,000. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of Overseas Shipholding Group by 19.2% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 36,087 shares of the transportation company’s stock worth $158,000 after acquiring an additional 5,810 shares during the period. Institutional investors and hedge funds own 80.92% of the company’s stock.

About Overseas Shipholding Group

Overseas Shipholding Group, Inc, together with its subsidiaries, owns and operates a fleet of oceangoing vessels in the United States. Its vessels are engaged in the transportation of crude oil, petroleum, and renewable transportation fuels in the United States flag trade. As of December 31, 2023, the company owned or operated a fleet of 21 vessels totaling an aggregate of approximately 1.5 million deadweight tons.