Mirae Asset Global Investments Co. Ltd. reduced its holdings in Wabash National Co. (NYSE:WNC – Get Rating) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 743,426 shares of the company’s stock after selling 31,708 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wabash National were worth $11,032,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in WNC. Scopus Asset Management L.P. acquired a new position in Wabash National in the fourth quarter valued at $9,553,000. Loomis Sayles & Co. L P acquired a new position in Wabash National in the first quarter valued at $6,132,000. S&T Bank PA acquired a new position in Wabash National in the fourth quarter valued at $6,376,000. Victory Capital Management Inc. increased its stake in Wabash National by 19.5% during the first quarter. Victory Capital Management Inc. now owns 1,699,394 shares of the company’s stock worth $24,917,000 after acquiring an additional 277,390 shares during the last quarter. Finally, Meros Investment Management LP acquired a new stake in Wabash National during the first quarter worth about $3,702,000. 99.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
WNC has been the subject of several research analyst reports. StockNews.com upgraded Wabash National from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Stephens upped their price target on Wabash National from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wabash National currently has an average rating of “Buy” and an average price target of $22.00.
Insider Transactions at Wabash National
Wabash National Price Performance
Shares of NYSE WNC opened at $15.70 on Wednesday. Wabash National Co. has a 1-year low of $12.23 and a 1-year high of $21.63. The business has a 50-day moving average of $16.79 and a 200-day moving average of $15.41. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.63 and a quick ratio of 0.93. The company has a market capitalization of $762.24 million, a price-to-earnings ratio of 38.29 and a beta of 1.61.
Wabash National (NYSE:WNC – Get Rating) last issued its earnings results on Wednesday, July 27th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Wabash National had a return on equity of 14.17% and a net margin of 0.94%. The company had revenue of $642.80 million during the quarter, compared to analysts’ expectations of $619.30 million. During the same period in the previous year, the company earned $0.21 EPS. Wabash National’s quarterly revenue was up 43.0% on a year-over-year basis. On average, equities analysts anticipate that Wabash National Co. will post 1.91 EPS for the current fiscal year.
Wabash National Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Thursday, October 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, October 5th. Wabash National’s payout ratio is 78.05%.
About Wabash National
Wabash National Corporation designs, manufactures, and distributes engineered 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 provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cutaway van bodies for commercial applications; service bodies; insulated van bodies; stake bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.
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