VELA Investment Management LLC Acquires 29,011 Shares of Wabash National Co. (NYSE:WNC)

VELA Investment Management LLC lifted its holdings in shares of Wabash National Co. (NYSE:WNC) by 19.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,102 shares of the company’s stock after acquiring an additional 29,011 shares during the quarter. Wabash National accounts for about 1.2% of VELA Investment Management LLC’s holdings, making the stock its 17th largest position. VELA Investment Management LLC owned about 0.41% of Wabash National worth $3,977,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Wabash National by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 797,365 shares of the company’s stock valued at $20,428,000 after purchasing an additional 6,682 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Wabash National during the fourth quarter worth about $36,000. QRG Capital Management Inc. increased its holdings in Wabash National by 21.4% during the fourth quarter. QRG Capital Management Inc. now owns 14,304 shares of the company’s stock worth $366,000 after buying an additional 2,520 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Wabash National in the fourth quarter worth about $563,000. Finally, Quadrant Capital Group LLC boosted its stake in Wabash National by 61.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $38,000 after acquiring an additional 565 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

Wabash National Stock Down 1.4 %

Shares of NYSE WNC opened at $18.89 on Friday. The business’s fifty day moving average price is $20.56 and its 200-day moving average price is $23.35. Wabash National Co. has a one year low of $18.54 and a one year high of $30.07. The stock has a market capitalization of $831.16 million, a PE ratio of 4.54 and a beta of 1.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.15.

Wabash National (NYSE:WNC) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Wabash National had a net margin of 6.66% and a return on equity of 28.24%. The business had revenue of $550.61 million for the quarter, compared to the consensus estimate of $594.77 million. During the same period in the prior year, the firm earned $1.54 earnings per share. The company’s revenue was down 19.8% compared to the same quarter last year. On average, equities research analysts anticipate that Wabash National Co. will post 1.53 EPS for the current year.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.69%. Wabash National’s payout ratio is 7.69%.

Analysts Set New Price Targets

Separately, DA Davidson restated a “neutral” rating and set a $23.00 price target on shares of Wabash National in a research note on Monday, June 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.