Oshkosh Corporation (NYSE:OSK) Sees Significant Drop in Short Interest

Key Points

• Oshkosh Corporation reported a 21.7% decline in short interest during August, down to 1.3 million shares, which represents approximately 2.1% of the company's total shares.
• The company announced a quarterly dividend of $0.51 per share, translating to an annualized dividend yield of 1.5%.
• Oshkosh's earnings for the last quarter beat estimates with $3.41 per share, exceeding the consensus expectation of $2.98.

Oshkosh Corporation (NYSE:OSK - Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,300,000 shares, a decrease of 21.7% from the August 15th total of 1,660,000 shares. Based on an average daily trading volume, of 699,600 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.1% of the shares of the stock are short sold. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 699,600 shares, the days-to-cover ratio is currently 1.9 days.

Insider Buying and Selling at Oshkosh

In other Oshkosh news, SVP Anupam Khare sold 4,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $139.03, for a total value of $556,120.00. Following the sale, the senior vice president directly owned 13,716 shares in the company, valued at $1,906,935.48. The trade was a 22.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Bryan K. Brandt sold 1,732 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $140.37, for a total value of $243,120.84. Following the transaction, the chief marketing officer owned 10,459 shares of the company's stock, valued at approximately $1,468,129.83. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of Oshkosh

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of Oshkosh by 91.4% in the first quarter. Parallel Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Oshkosh by 69.1% in the second quarter. Whittier Trust Co. now owns 279 shares of the company's stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. CX Institutional acquired a new position in shares of Oshkosh in the first quarter valued at approximately $28,000. Golden State Wealth Management LLC increased its position in shares of Oshkosh by 147.6% in the first quarter. Golden State Wealth Management LLC now owns 312 shares of the company's stock worth $30,000 after acquiring an additional 186 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Oshkosh by 215.5% in the second quarter. Hantz Financial Services Inc. now owns 407 shares of the company's stock valued at $46,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 92.36% of the company's stock.

Oshkosh Stock Performance

NYSE OSK traded down $3.54 during trading on Friday, reaching $132.73. The company's stock had a trading volume of 1,308,461 shares, compared to its average volume of 561,788. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 1.84. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.66 and a beta of 1.49. Oshkosh has a twelve month low of $76.82 and a twelve month high of $144.30. The business's fifty day moving average price is $134.54 and its 200-day moving average price is $111.58.

Oshkosh (NYSE:OSK - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the business posted $3.34 earnings per share. The business's revenue was down 4.0% compared to the same quarter last year. Oshkosh has set its FY 2025 guidance at 11.000-11.000 EPS. As a group, analysts anticipate that Oshkosh will post 10.96 EPS for the current fiscal year.

Oshkosh Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Oshkosh's payout ratio is currently 20.48%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America upped their price target on Oshkosh from $90.00 to $103.00 and gave the stock an "underperform" rating in a research note on Friday, June 6th. UBS Group set a $164.00 price objective on Oshkosh and gave the company a "buy" rating in a research report on Tuesday, August 5th. Robert W. Baird lifted their price target on Oshkosh from $169.00 to $188.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Zacks Research raised shares of Oshkosh from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, Wall Street Zen downgraded shares of Oshkosh from a "buy" rating to a "hold" rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $138.08.

About Oshkosh

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.