Allspring Global Investments Holdings LLC Lowers Stock Holdings in Wabash National Co. (NYSE:WNC)

Allspring Global Investments Holdings LLC cut its position in Wabash National Co. (NYSE:WNC) by 35.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,812 shares of the company’s stock after selling 77,340 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.31% of Wabash National worth $3,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new stake in Wabash National during the third quarter worth about $1,595,000. AQR Capital Management LLC grew its stake in shares of Wabash National by 12.7% during the third quarter. AQR Capital Management LLC now owns 547,322 shares of the company’s stock worth $11,559,000 after purchasing an additional 61,887 shares in the last quarter. American Century Companies Inc. increased its holdings in Wabash National by 99.0% in the third quarter. American Century Companies Inc. now owns 264,288 shares of the company’s stock valued at $5,582,000 after buying an additional 131,512 shares during the last quarter. Quantbot Technologies LP raised its stake in Wabash National by 143.4% in the third quarter. Quantbot Technologies LP now owns 38,185 shares of the company’s stock valued at $806,000 after buying an additional 22,495 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wabash National by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,057 shares of the company’s stock worth $12,525,000 after buying an additional 49,443 shares during the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Larry J. Magee sold 3,086 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the completion of the sale, the director now directly owns 114,146 shares of the company’s stock, valued at $3,024,869. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Larry J. Magee sold 3,086 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $26.50, for a total value of $81,779.00. Following the transaction, the director now owns 114,146 shares of the company’s stock, valued at $3,024,869. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Priyadarshi Sudhanshu sold 1,010 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total value of $27,330.60. Following the sale, the director now directly owns 6,386 shares of the company’s stock, valued at $172,805.16. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

Wabash National Price Performance

Shares of NYSE:WNC opened at $25.36 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.17. Wabash National Co. has a 12 month low of $20.09 and a 12 month high of $30.07. The firm has a market capitalization of $1.15 billion, a P/E ratio of 5.27 and a beta of 1.58. The company’s fifty day moving average price is $27.40 and its 200 day moving average price is $24.81.

Wabash National (NYSE:WNC) last posted its earnings results on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.18. Wabash National had a return on equity of 46.87% and a net margin of 9.12%. The business had revenue of $596.10 million during the quarter, compared to the consensus estimate of $633.68 million. During the same period in the previous year, the business earned $0.84 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Wabash National Co. will post 2.19 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, April 4th will be given a $0.08 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $0.32 annualized dividend and a yield of 1.26%. Wabash National’s dividend payout ratio (DPR) is 6.65%.

Analysts Set New Price Targets

Separately, StockNews.com raised Wabash National from a “hold” rating to a “buy” rating in a research report on Thursday.

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.