Islay Capital Management LLC Trims Holdings in Oshkosh Corporation $OSK

Key Points

• Islay Capital Management LLC cut its stake in Oshkosh by 83.3% in the third quarter, selling 8,502 shares and leaving the firm with 1,700 shares valued at about $220,000.
• Oshkosh SVP Anupam Khare sold 4,000 shares at an average price of $169.07 on Feb. 27 (a 22.76% reduction in their holding); overall institutional ownership stands at 92.36% while insiders own 0.55%.
• Oshkosh raised its quarterly dividend to $0.57 (annualized $2.28, yield ~1.4%); the most recent quarter showed EPS of $2.26 (missed by $0.07) while revenue beat expectations at $2.69 billion.

Islay Capital Management LLC reduced its stake in Oshkosh Corporation (NYSE:OSK - Free Report) by 83.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700 shares of the company's stock after selling 8,502 shares during the period. Islay Capital Management LLC's holdings in Oshkosh were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OSK. Sivia Capital Partners LLC boosted its holdings in shares of Oshkosh by 2.8% in the third quarter. Sivia Capital Partners LLC now owns 2,946 shares of the company's stock valued at $382,000 after purchasing an additional 81 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Oshkosh by 3.1% in the 2nd quarter. ProShare Advisors LLC now owns 2,855 shares of the company's stock worth $324,000 after buying an additional 87 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Oshkosh by 6.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,763 shares of the company's stock worth $200,000 after buying an additional 100 shares during the period. First Business Financial Services Inc. grew its position in shares of Oshkosh by 0.9% during the 3rd quarter. First Business Financial Services Inc. now owns 11,845 shares of the company's stock worth $1,536,000 after buying an additional 103 shares in the last quarter. Finally, Brighton Jones LLC grew its position in shares of Oshkosh by 1.9% during the 3rd quarter. Brighton Jones LLC now owns 6,212 shares of the company's stock worth $806,000 after buying an additional 114 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Oshkosh

In other Oshkosh news, SVP Anupam Khare sold 4,000 shares of the firm's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $169.07, for a total value of $676,280.00. Following the completion of the transaction, the senior vice president owned 13,577 shares of the company's stock, valued at approximately $2,295,463.39. This trade represents a 22.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company's stock.

Oshkosh Stock Performance

Shares of OSK stock opened at $159.91 on Friday. Oshkosh Corporation has a 12-month low of $76.82 and a 12-month high of $180.49. The business's fifty day simple moving average is $156.35 and its 200-day simple moving average is $140.03. The company has a current ratio of 1.94, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. The company has a market cap of $10.00 billion, a PE ratio of 15.96, a PEG ratio of 0.85 and a beta of 1.37.

Oshkosh (NYSE:OSK - Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.07). The business had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $2.60 billion. Oshkosh had a return on equity of 15.69% and a net margin of 6.21%.The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 earnings per share. Analysts expect that Oshkosh Corporation will post 10.96 earnings per share for the current fiscal year.

Oshkosh Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.28 annualized dividend and a yield of 1.4%. This is a boost from Oshkosh's previous quarterly dividend of $0.51. Oshkosh's payout ratio is presently 22.75%.

Analyst Ratings Changes

Several research firms recently weighed in on OSK. Raymond James Financial restated an "outperform" rating and issued a $175.00 price objective on shares of Oshkosh in a report on Monday. Truist Financial set a $183.00 price target on shares of Oshkosh in a report on Friday, January 30th. Argus dropped their price objective on shares of Oshkosh from $175.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, December 10th. DA Davidson lifted their price objective on shares of Oshkosh from $160.00 to $168.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Finally, Morgan Stanley lowered their target price on Oshkosh from $155.00 to $144.00 and set an "equal weight" rating for the company in a report on Tuesday, February 3rd. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Oshkosh has an average rating of "Moderate Buy" and an average price target of $162.81.

About Oshkosh

Oshkosh Corporation NYSE: OSK is a leading designer, manufacturer and marketer of specialty trucks, military vehicles and access equipment. The company's offerings span critical end markets, including defense, fire and emergency services, commercial construction and industrial sectors. By combining engineering expertise with advanced technologies, Oshkosh delivers solutions that enhance mobility, safety and productivity for its customers.

Founded in 1917 and headquartered in Oshkosh, Wisconsin, the company has evolved from producing heavy-duty dump trucks to a diversified portfolio of products and services.

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