Olstein Capital Management L.P. Reduces Position in Oshkosh Corp. (OSK)
Olstein Capital Management L.P. cut its position in shares of Oshkosh Corp. (NYSE:OSK) by 39.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,914 shares of the company’s stock after selling 79,315 shares during the period. Olstein Capital Management L.P. owned approximately 0.17% of Oshkosh Corp. worth $6,939,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Oshkosh Corp. during the second quarter worth approximately $19,300,000. Thrivent Financial for Lutherans raised its position in shares of Oshkosh Corp. by 18.3% in the second quarter. Thrivent Financial for Lutherans now owns 2,267,140 shares of the company’s stock worth $108,165,000 after buying an additional 350,960 shares in the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Oshkosh Corp. during the third quarter worth approximately $17,988,000. Davis R M Inc. raised its position in shares of Oshkosh Corp. by 1,361.8% in the third quarter. Davis R M Inc. now owns 211,380 shares of the company’s stock worth $11,837,000 after buying an additional 196,920 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Oshkosh Corp. by 3.7% in the second quarter. Vanguard Group Inc. now owns 5,313,307 shares of the company’s stock worth $253,498,000 after buying an additional 187,531 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oshkosh Corp. (NYSE:OSK) traded up 0.90% during trading on Tuesday, hitting $69.75. The stock had a trading volume of 428,837 shares. Oshkosh Corp. has a 52 week low of $29.59 and a 52 week high of $70.39. The firm has a 50-day moving average price of $58.60 and a 200 day moving average price of $52.67. The company has a market capitalization of $5.19 billion, a PE ratio of 23.97 and a beta of 1.68.
Oshkosh Corp. (NYSE:OSK) last posted its earnings results on Tuesday, November 1st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.21. Oshkosh Corp. had a return on equity of 12.31% and a net margin of 3.45%. The business earned $1.76 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that Oshkosh Corp. will post $3.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.22%. This is a boost from Oshkosh Corp.’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, November 15th. Oshkosh Corp.’s payout ratio is presently 28.97%.
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Several analysts have recently issued reports on the company. Zacks Investment Research raised Oshkosh Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Deutsche Bank AG assumed coverage on Oshkosh Corp. in a report on Tuesday, September 6th. They set a “buy” rating and a $62.00 target price on the stock. Bank of America Corp. raised Oshkosh Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, August 18th. Credit Suisse Group AG raised Oshkosh Corp. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $54.00 in a report on Monday, September 26th. Finally, Stifel Nicolaus reduced their target price on Oshkosh Corp. from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Monday, September 26th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Oshkosh Corp. currently has an average rating of “Buy” and a consensus target price of $56.21.
In other news, VP Marek W. May sold 9,616 shares of the company’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $69.74, for a total value of $670,619.84. Following the completion of the transaction, the vice president now directly owns 12,368 shares in the company, valued at approximately $862,544.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard G. Sim sold 2,300 shares of the company’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $125,580.00. Following the completion of the transaction, the director now owns 41,953 shares of the company’s stock, valued at $2,290,633.80. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
About Oshkosh Corp.
Oshkosh Corporation is a manufacturer and marketer of access equipment, specialty vehicles and truck bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire and emergency. The company’s brands include Oshkosh, JLG, Pierce, McNeilus, IMT, Frontline, Jerr-Dan, CON-E-CO and London.
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