Overseas Shipholding Group (NYSE:OSG) Sees Strong Trading Volume

Overseas Shipholding Group, Inc. (NYSE:OSG) saw strong 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 shares of Overseas Shipholding Group from a “c” rating to a “b-” rating in a research report on Wednesday, February 14th.

Overseas Shipholding Group Stock Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.67 and a quick ratio of 0.63. The company has a 50 day simple moving average of $6.30 and a 200-day simple moving average of $5.78. The firm has a market cap of $608.65 million, a PE ratio of 10.27 and a beta of 0.39.

Overseas Shipholding Group (NYSE:OSG) last issued 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 for the quarter. Overseas Shipholding Group had a net margin of 14.26% and a return on equity of 18.38%.

Overseas Shipholding Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Wednesday, March 27th. Overseas Shipholding Group’s dividend payout ratio is currently 29.27%.

Insider Activity

In related news, CEO Samuel H. Norton sold 50,000 shares of the 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 transaction, the chief executive officer now directly owns 2,352,388 shares in the company, valued at approximately $14,231,947.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Samuel H. Norton sold 50,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $6.05, for a total value of $302,500.00. Following the sale, the chief executive officer now directly owns 2,352,388 shares of the company’s stock, valued at $14,231,947.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Samuel H. Norton sold 20,337 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $5.98, for a total value of $121,615.26. Following the transaction, the chief executive officer now 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 90 days, insiders have sold 120,337 shares of company stock worth $761,115. Corporate insiders own 9.29% of the company’s stock.

Institutional Investors Weigh In On Overseas Shipholding Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Overseas Shipholding Group by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,975,645 shares of the transportation company’s stock valued at $26,221,000 after acquiring an additional 119,349 shares during the period. Janney Montgomery Scott LLC lifted its position in Overseas Shipholding Group by 0.7% during the third quarter. Janney Montgomery Scott LLC now owns 1,431,176 shares of the transportation company’s stock valued at $6,283,000 after purchasing an additional 9,588 shares during the period. Brightline Capital Management LLC purchased a new stake in Overseas Shipholding Group in the fourth quarter worth approximately $2,951,000. Acuitas Investments LLC grew its position in Overseas Shipholding Group by 2.1% in the 4th quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock worth $2,586,000 after purchasing an additional 10,063 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Overseas Shipholding Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 370,115 shares of the transportation company’s stock valued at $2,369,000 after buying an additional 27,990 shares during the period. Institutional investors 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.