Northern Trust Corp grew its stake in shares of Overseas Shipholding Group Inc. (NYSE:OSG) by 31.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 579,220 shares of the transportation company’s stock after acquiring an additional 137,530 shares during the period. Northern Trust Corp owned 0.68% of Overseas Shipholding Group worth $2,247,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of Overseas Shipholding Group by 35.8% during the second quarter. Rhumbline Advisers now owns 57,179 shares of the transportation company’s stock worth $222,000 after purchasing an additional 15,081 shares during the period. Bailard Inc. bought a new position in shares of Overseas Shipholding Group during the second quarter worth approximately $515,000. Mackay Shields LLC increased its holdings in shares of Overseas Shipholding Group by 45.5% during the second quarter. Mackay Shields LLC now owns 138,800 shares of the transportation company’s stock worth $539,000 after purchasing an additional 43,400 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of Overseas Shipholding Group during the second quarter worth approximately $594,000. Finally, Millennium Management LLC bought a new position in shares of Overseas Shipholding Group during the second quarter worth approximately $690,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.
Shares of OSG opened at $2.29 on Friday. Overseas Shipholding Group Inc. has a 12 month low of $1.67 and a 12 month high of $4.16. The company has a market cap of $188.63 million, a PE ratio of 2.75 and a beta of -0.17.
Overseas Shipholding Group (NYSE:OSG) last announced its earnings results on Friday, November 9th. The transportation company reported $0.13 EPS for the quarter. Overseas Shipholding Group had a net margin of 19.56% and a return on equity of 22.51%. The company had revenue of $80.54 million for the quarter.
In other news, insider Samuel H. Norton acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were acquired at an average cost of $2.18 per share, with a total value of $32,700.00. Following the completion of the purchase, the insider now directly owns 525,841 shares of the company’s stock, valued at approximately $1,146,333.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Douglas D. Wheat acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The stock was purchased at an average cost of $2.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the chairman now directly owns 151,085 shares of the company’s stock, valued at $302,170. The disclosure for this purchase can be found here. 1.53% of the stock is currently owned by company insiders.
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Overseas Shipholding Group Profile
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.
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