Piedmont Investment Advisors LLC cut its stake in shares of Wabash National Co. (NYSE:WNC) by 89.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,998 shares of the company’s stock after selling 109,492 shares during the period. Piedmont Investment Advisors LLC’s holdings in Wabash National were worth $297,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. boosted its position in Wabash National by 1.1% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 249,543 shares of the company’s stock valued at $5,693,000 after purchasing an additional 2,700 shares during the last quarter. Royce & Associates LP boosted its position in Wabash National by 4.0% during the third quarter. Royce & Associates LP now owns 3,856,637 shares of the company’s stock valued at $88,008,000 after purchasing an additional 148,534 shares during the last quarter. Pinebridge Investments L.P. boosted its position in Wabash National by 4.6% during the third quarter. Pinebridge Investments L.P. now owns 67,067 shares of the company’s stock valued at $1,531,000 after purchasing an additional 2,927 shares during the last quarter. Evanston Investments Inc. dba Evanston Advisors boosted its position in Wabash National by 2.3% during the third quarter. Evanston Investments Inc. dba Evanston Advisors now owns 149,441 shares of the company’s stock valued at $3,410,000 after purchasing an additional 3,372 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Wabash National by 6.5% during the third quarter. Nordea Investment Management AB now owns 106,496 shares of the company’s stock valued at $2,430,000 after purchasing an additional 6,480 shares during the last quarter.
WNC has been the subject of a number of recent analyst reports. ValuEngine raised Wabash National from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. OTR Global cut Wabash National to a “positive” rating in a research report on Thursday. BMO Capital Markets reaffirmed a “hold” rating on shares of Wabash National in a research report on Monday, October 23rd. Zacks Investment Research cut Wabash National from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Stifel Nicolaus cut their price objective on Wabash National from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, November 6th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Wabash National has an average rating of “Hold” and a consensus target price of $23.83.
Wabash National (NYSE:WNC) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). Wabash National had a net margin of 5.05% and a return on equity of 18.42%. The business had revenue of $425.10 million during the quarter, compared to analyst estimates of $449.05 million. During the same period in the previous year, the business earned $0.50 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. sell-side analysts anticipate that Wabash National Co. will post 1.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 4th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Wabash National’s previous quarterly dividend of $0.06. Wabash National’s dividend payout ratio (DPR) is 17.91%.
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About Wabash National
Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.
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