Bank of New York Mellon Corp Decreases Stake in Wabash National Co. (NYSE:WNC)

Bank of New York Mellon Corp cut its holdings in Wabash National Co. (NYSE:WNC) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,049 shares of the company’s stock after selling 9,268 shares during the quarter. Bank of New York Mellon Corp owned 1.27% of Wabash National worth $15,334,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Jackson Creek Investment Advisors LLC boosted its stake in shares of Wabash National by 6.9% in the second quarter. Jackson Creek Investment Advisors LLC now owns 35,704 shares of the company’s stock valued at $915,000 after buying an additional 2,297 shares in the last quarter. Bank of Montreal Can purchased a new stake in Wabash National during the second quarter worth $305,000. LSV Asset Management boosted its position in Wabash National by 59.0% during the second quarter. LSV Asset Management now owns 1,097,556 shares of the company’s stock worth $28,141,000 after purchasing an additional 407,264 shares in the last quarter. LPL Financial LLC boosted its position in Wabash National by 215.2% during the second quarter. LPL Financial LLC now owns 35,757 shares of the company’s stock worth $917,000 after purchasing an additional 24,414 shares in the last quarter. Finally, Alpha DNA Investment Management LLC purchased a new stake in Wabash National during the second quarter worth $774,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Stock Performance

Wabash National stock opened at $22.21 on Wednesday. The firm has a market capitalization of $1.02 billion, a P/E ratio of 4.81 and a beta of 1.58. The stock has a fifty day moving average price of $21.43 and a 200 day moving average price of $23.37. Wabash National Co. has a 52 week low of $20.09 and a 52 week high of $30.10. The company has a current ratio of 1.83, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76.

Wabash National (NYSE:WNC) last posted its earnings results on Wednesday, October 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. Wabash National had a return on equity of 48.80% and a net margin of 8.56%. The business had revenue of $632.83 million during the quarter. Equities research analysts anticipate that Wabash National Co. will post 4.68 earnings per share for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Thursday, October 5th were paid a $0.08 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.44%. Wabash National’s dividend payout ratio (DPR) is currently 6.99%.

Wall Street Analyst Weigh In

A number of research firms have commented on WNC. StockNews.com began coverage on Wabash National in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Stephens reduced their price objective on Wabash National from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Finally, DA Davidson downgraded Wabash National from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $25.00 in a research report on Wednesday, September 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.10.

Wabash National Profile

Wabash National Corporation designs, manufactures, and distributes 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 provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; insulated van bodies; stake bodies; platform truck bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.