New York State Teachers Retirement System Reduces Holdings in Wabash National Co. (NYSE:WNC)

New York State Teachers Retirement System decreased its stake in shares of Wabash National Co. (NYSE:WNC) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 49,518 shares of the company’s stock after selling 4,507 shares during the quarter. New York State Teachers Retirement System’s holdings in Wabash National were worth $1,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in Wabash National during the 1st quarter valued at approximately $26,000. Quarry LP lifted its stake in shares of Wabash National by 451.5% in the 1st quarter. Quarry LP now owns 2,002 shares of the company’s stock valued at $49,000 after purchasing an additional 1,639 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Wabash National by 198.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company’s stock valued at $63,000 after purchasing an additional 1,984 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in Wabash National by 21.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,998 shares of the company’s stock worth $68,000 after purchasing an additional 535 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Wabash National by 30.6% in the fourth quarter. Lazard Asset Management LLC now owns 3,521 shares of the company’s stock worth $79,000 after purchasing an additional 826 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Insider Activity at Wabash National

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Wabash National from a “hold” rating to a “buy” rating in a report on Thursday.

Wabash National Price Performance

WNC stock opened at $25.90 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.17 and a current ratio of 1.93. The firm has a 50 day moving average price of $27.41 and a 200-day moving average price of $24.78. Wabash National Co. has a 52-week low of $20.09 and a 52-week high of $30.07. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 5.38 and a beta of 1.58.

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

Wabash National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, April 4th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, April 3rd. Wabash National’s payout ratio is 6.65%.

About Wabash National

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.