Wabash National Corporation (NYSE:WNC) Shares Purchased by Allworth Financial LP

Allworth Financial LP lifted its holdings in Wabash National Corporation (NYSE:WNC) by 268.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,220 shares of the company’s stock after buying an additional 2,347 shares during the quarter. Allworth Financial LP’s holdings in Wabash National were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Wabash National by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 925,952 shares of the company’s stock valued at $15,862,000 after buying an additional 69,514 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Wabash National in the 4th quarter worth approximately $2,827,000. Amundi grew its position in Wabash National by 182.8% in the fourth quarter. Amundi now owns 21,263 shares of the company’s stock valued at $358,000 after acquiring an additional 13,745 shares in the last quarter. Sei Investments Co. raised its stake in shares of Wabash National by 3.7% during the fourth quarter. Sei Investments Co. now owns 279,850 shares of the company’s stock valued at $4,794,000 after purchasing an additional 10,055 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Wabash National during the fourth quarter valued at approximately $670,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson upped their target price on shares of Wabash National from $7.50 to $9.50 and gave the company a “neutral” rating in a research note on Monday, June 23rd.

Wabash National Stock Performance

NYSE:WNC opened at $9.70 on Friday. The firm has a 50-day moving average of $9.99 and a two-hundred day moving average of $11.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.91. The stock has a market cap of $406.14 million, a P/E ratio of -6.26 and a beta of 1.65. Wabash National Corporation has a 1-year low of $6.78 and a 1-year high of $23.11.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.32). Wabash National had a negative net margin of 3.93% and a positive return on equity of 3.49%. The business had revenue of $380.89 million during the quarter, compared to analysts’ expectations of $414.55 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was down 26.1% on a year-over-year basis. On average, research analysts expect that Wabash National Corporation will post 0.94 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, July 3rd. Wabash National’s payout ratio is currently -20.65%.

About Wabash National

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.