Overseas Shipholding Group Inc. (NYSE:OSG)’s share price was down 9.7% on Tuesday . The stock traded as low as $1.92 and last traded at $1.95. Approximately 801,148 shares changed hands during trading, an increase of 34% from the average daily volume of 598,766 shares. The stock had previously closed at $2.16.
The company has a market cap of $181.02 million, a price-to-earnings ratio of 2.67 and a beta of -0.29.
Overseas Shipholding Group (NYSE:OSG) last released its earnings results on Friday, November 9th. The transportation company reported $0.13 earnings per share for the quarter. Overseas Shipholding Group had a return on equity of 22.51% and a net margin of 19.56%. The company had revenue of $80.54 million for the quarter.
In other news, Chairman Douglas D. Wheat purchased 50,000 shares of Overseas Shipholding Group stock in a transaction dated Wednesday, November 14th. The stock was acquired at an average cost of $2.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chairman now directly owns 151,085 shares in the company, valued at $302,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel H. Norton purchased 15,000 shares of Overseas Shipholding Group stock in a transaction dated Thursday, November 15th. The shares were purchased at an average price of $2.18 per share, with a total value of $32,700.00. Following the completion of the acquisition, the insider now owns 525,841 shares in the company, valued at $1,146,333.38. The disclosure for this purchase can be found here. Insiders own 1.53% of the company’s stock.
Several institutional investors have recently made changes to their positions in OSG. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Overseas Shipholding Group by 29.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,981,004 shares of the transportation company’s stock valued at $7,686,000 after buying an additional 449,593 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Overseas Shipholding Group by 35.8% during the 2nd quarter. Rhumbline Advisers now owns 57,179 shares of the transportation company’s stock valued at $222,000 after buying an additional 15,081 shares during the last quarter. Mackay Shields LLC lifted its holdings in shares of Overseas Shipholding Group by 45.5% during the 2nd quarter. Mackay Shields LLC now owns 138,800 shares of the transportation company’s stock valued at $539,000 after buying an additional 43,400 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Overseas Shipholding Group during the 2nd quarter valued at about $594,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Overseas Shipholding Group by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 690,384 shares of the transportation company’s stock valued at $2,679,000 after buying an additional 67,726 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.
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Overseas Shipholding Group Company Profile (NYSE:OSG)
Overseas Shipholding Group, Inc owns and operates a fleet of oceangoing vessels engaged in the transportation of crude oil and petroleum products in the United States. At December 31, 2017, the company owned or operated a fleet of 23 vessels totaling an aggregate of approximately 1 million deadweight tons.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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