Oshkosh Corporation Declares Quarterly Dividend of $0.51 (NYSE:OSK)

Key Points

• Oshkosh Corporation declared a quarterly dividend of $0.51 per share, which will be paid on September 2nd to shareholders of record on August 19th, representing an annual yield of 1.5%.
• The company reported earnings of $3.41 per share in its latest quarter, exceeding analysts' estimates, while also showing a revenue of $2.73 billion, beating expectations of $2.67 billion.
• Institutional ownership of Oshkosh is high, with approximately 92.36% held by institutional investors, reflecting strong support and confidence in the company's performance.

Oshkosh Corporation (NYSE:OSK - Get Free Report) announced a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Tuesday, August 19th will be paid a dividend of 0.51 per share on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 19th.

Oshkosh has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Oshkosh to earn $12.50 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 16.3%.

Oshkosh Stock Performance

Shares of NYSE OSK traded up $6.44 during midday trading on Monday, reaching $136.98. The company had a trading volume of 1,061,330 shares, compared to its average volume of 791,331. The business's 50-day simple moving average is $116.04 and its 200 day simple moving average is $103.28. The stock has a market cap of $8.82 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.96 and a beta of 1.43. Oshkosh has a 1 year low of $76.82 and a 1 year high of $137.33. The company has a current ratio of 1.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Oshkosh (NYSE:OSK - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.98 by $0.43. Oshkosh had a net margin of 6.25% and a return on equity of 16.70%. The company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter in the previous year, the company earned $3.34 earnings per share. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts forecast that Oshkosh will post 10.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its stake in shares of Oshkosh by 16.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,562 shares of the company's stock worth $244,000 after buying an additional 371 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Oshkosh by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 1,130,190 shares of the company's stock worth $107,479,000 after buying an additional 40,260 shares during the last quarter. ExodusPoint Capital Management LP increased its stake in shares of Oshkosh by 0.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 49,450 shares of the company's stock worth $4,701,000 after buying an additional 417 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Oshkosh by 13.1% in the fourth quarter. Wells Fargo & Company MN now owns 68,868 shares of the company's stock worth $6,547,000 after buying an additional 7,960 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Oshkosh by 13.0% in the fourth quarter. FMR LLC now owns 1,383,558 shares of the company's stock worth $131,535,000 after buying an additional 159,667 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Oshkosh Company Profile

Oshkosh Corporation provides purpose-built vehicles and equipment worldwide. The company operates through three segments: Access, Defense, and Vocational segment. Its Access Equipment segment design and manufacture aerial work platform and telehandlers for use in construction, industrial, and maintenance applications; offers financing and leasing solutions including rental fleet loans, leases, and floor plan and retail financing; and towing and recovery equipment, which includes carriers, wreckers, and rotators, as well as provides equipment installation and sale of chassis and service parts.

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