Charles Schwab Investment Management Inc. lifted its holdings in Wabash National Co. (NYSE:WNC) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 796,237 shares of the company’s stock after acquiring an additional 17,873 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.46% of Wabash National worth $12,955,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Convergence Investment Partners LLC purchased a new position in Wabash National during the second quarter valued at $170,000. O Shaughnessy Asset Management LLC lifted its holdings in Wabash National by 104.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,878 shares of the company’s stock valued at $174,000 after purchasing an additional 6,567 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in Wabash National by 5.5% during the first quarter. Pacific Ridge Capital Partners LLC now owns 84,900 shares of the company’s stock valued at $1,150,000 after purchasing an additional 4,460 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Wabash National by 110.8% during the second quarter. Prudential Financial Inc. now owns 1,096,533 shares of the company’s stock valued at $17,841,000 after purchasing an additional 576,463 shares in the last quarter. Finally, Alpha Windward LLC purchased a new position in Wabash National during the second quarter valued at $495,000. 98.37% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Craig Hallum downgraded shares of Wabash National from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research note on Wednesday, July 31st. ValuEngine raised shares of Wabash National from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Wabash National from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.83.
Wabash National stock traded up $0.37 during midday trading on Friday, hitting $13.59. 359,158 shares of the stock were exchanged, compared to its average volume of 389,711. Wabash National Co. has a fifty-two week low of $12.25 and a fifty-two week high of $16.70. The stock has a market capitalization of $719.92 million, a price-to-earnings ratio of 9.44 and a beta of 2.06. The stock’s 50-day simple moving average is $14.06 and its 200 day simple moving average is $14.64. The company has a current ratio of 1.92, a quick ratio of 1.09 and a debt-to-equity ratio of 0.98.
Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. Wabash National had a net margin of 2.67% and a return on equity of 17.36%. The business had revenue of $626.05 million during the quarter, compared to analysts’ expectations of $613.36 million. During the same period last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts anticipate that Wabash National Co. will post 1.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 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 2.35%. The ex-dividend date is Wednesday, October 2nd. Wabash National’s dividend payout ratio is presently 22.22%.
Wabash National Company Profile
Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.
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