In a recent transaction, Samuel H. Norton, President and CEO of Overseas Shipholding Group Inc. (NYSE:OSG), sold 50,000 shares of the company's stock. The sale was conducted at weighted average prices ranging from $6.65 to $6.785, with the total transaction amounting to approximately $336,975.
The shares sold by Norton were part of a pre-arranged trading plan, known as a 10b5-1 plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. This particular plan was established with a term beginning on August 15, 2023, and ending on November 15, 2024.
Following the sale, Norton continues to hold a significant amount of Overseas Shipholding Group's stock, with 2,457,479 shares remaining in his possession. These shares are held in a revocable trust, for which he is the sole trustee.
Investors and shareholders may request more detailed information regarding the specific prices at which the shares were sold within the reported range. This recent sale by the CEO of Overseas Shipholding Group provides transparency into the trading activities of the company's executives and may be of interest to current and potential investors monitoring the stock's activity.
InvestingPro Insights
Overseas Shipholding Group Inc. (NYSE:OSG) has shown a remarkable performance in the market, with the stock trading near its 52-week high. The company's management has been actively involved in creating value for its shareholders, as evidenced by the aggressive share buyback strategy. This aligns with the InvestingPro Tips that highlight a high shareholder yield and a substantial return over the last year, indicating a proactive approach to capital management and shareholder returns.
On the financial front, OSG's P/E ratio stands at a competitive 7.95, which dips slightly to 7.7 when adjusted for the last twelve months as of Q1 2024. This attractive valuation metric is complemented by a PEG ratio of just 0.08, suggesting that the stock may be undervalued based on its earnings growth. Furthermore, with a Price / Book ratio of 1.37 for the same period, it reflects a reasonable valuation relative to the company's net asset value. These figures are crucial for investors who are looking for stocks that may offer both value and growth potential.
Despite a slight revenue contraction of -4.41% in the last twelve months as of Q1 2024, OSG has managed to maintain a strong gross profit margin of 43.4%, underpinning the company's ability to control costs and sustain profitability. The InvestingPro Tips also indicate that the company has been profitable over the last twelve months, which is a reassuring sign for investors concerned about the company's fundamental strength.
For investors intrigued by these insights, there are additional InvestingPro Tips available that could provide further depth into OSG's financial health and market performance. To delve deeper, investors can visit https://www.investing.com/pro/OSG and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 9 additional tips listed on InvestingPro, subscribers can gain a comprehensive understanding of the potential investment opportunities and risks associated with Overseas Shipholding Group.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.