Bank of New York Mellon Corp Reduces Stock Holdings in Wabash National Co. (NYSE:WNC)

Bank of New York Mellon Corp reduced its holdings in Wabash National Co. (NYSE:WNC) by 34.1% during the 4th quarter, Holdings Channel reports. The fund owned 322,486 shares of the company’s stock after selling 167,114 shares during the period. Bank of New York Mellon Corp’s holdings in Wabash National were worth $5,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wasatch Advisors LP raised its position in Wabash National by 6.7% during the third quarter. Wasatch Advisors LP now owns 1,875,190 shares of the company’s stock worth $35,985,000 after acquiring an additional 117,704 shares during the period. State Street Corp grew its holdings in shares of Wabash National by 1.0% in the third quarter. State Street Corp now owns 1,744,629 shares of the company’s stock valued at $33,479,000 after purchasing an additional 16,826 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Wabash National in the fourth quarter valued at about $25,688,000. Victory Capital Management Inc. grew its holdings in shares of Wabash National by 2.8% in the third quarter. Victory Capital Management Inc. now owns 1,044,268 shares of the company’s stock valued at $20,040,000 after purchasing an additional 28,913 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Wabash National by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 856,438 shares of the company’s stock worth $16,435,000 after buying an additional 46,451 shares during the period. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wabash National

In related news, SVP Michael N. Pettit sold 1,500 shares of Wabash National stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $17.19, for a total value of $25,785.00. Following the transaction, the senior vice president now directly owns 117,227 shares in the company, valued at $2,015,132.13. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.78% of the company’s stock.

Wabash National Stock Up 2.6 %

Shares of NYSE:WNC opened at $11.04 on Monday. The firm’s 50 day moving average price is $13.86 and its 200 day moving average price is $16.96. The stock has a market cap of $468.78 million, a price-to-earnings ratio of -1.69 and a beta of 1.64. Wabash National Co. has a fifty-two week low of $10.34 and a fifty-two week high of $30.07. The company has a quick ratio of 1.09, a current ratio of 1.93 and a debt-to-equity ratio of 2.10.

Wabash National (NYSE:WNC) last released its quarterly earnings data on Wednesday, January 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Wabash National had a positive return on equity of 14.72% and a negative net margin of 14.59%. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities research analysts predict that Wabash National Co. will post 0.94 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.90%. Wabash National’s dividend payout ratio (DPR) is presently -4.91%.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered their target price on shares of Wabash National from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, February 24th.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.