Northern Trust Corp Purchases 38,928 Shares of Wabash National Co. (NYSE:WNC)

Northern Trust Corp raised its position in shares of Wabash National Co. (NYSE:WNC) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 497,552 shares of the company’s stock after acquiring an additional 38,928 shares during the period. Northern Trust Corp owned approximately 1.15% of Wabash National worth $8,523,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in shares of Wabash National during the fourth quarter worth approximately $25,688,000. First Trust Advisors LP boosted its holdings in shares of Wabash National by 22.5% during the fourth quarter. First Trust Advisors LP now owns 1,468,605 shares of the company’s stock worth $25,157,000 after acquiring an additional 269,846 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Wabash National by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 925,952 shares of the company’s stock valued at $15,862,000 after buying an additional 69,514 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Wabash National by 28.6% in the fourth quarter. Clearbridge Investments LLC now owns 646,912 shares of the company’s stock valued at $11,082,000 after buying an additional 143,899 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Wabash National by 3.7% in the fourth quarter. Sei Investments Co. now owns 279,850 shares of the company’s stock valued at $4,794,000 after buying an additional 10,055 shares in the last quarter. Institutional investors own 97.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price target on shares of Wabash National from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, February 24th.

Wabash National Stock Up 2.8%

NYSE WNC opened at $9.66 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.09 and a debt-to-equity ratio of 2.10. Wabash National Co. has a 1-year low of $6.78 and a 1-year high of $24.03. The company has a 50 day moving average of $10.02 and a 200-day moving average of $14.12. The company has a market cap of $404.25 million, a price-to-earnings ratio of -1.48 and a beta of 1.57.

Wabash National (NYSE:WNC) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.32). Wabash National had a negative net margin of 14.59% and a positive return on equity of 14.72%. The business had revenue of $380.89 million during the quarter, compared to analyst estimates of $414.55 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was down 26.1% on a year-over-year basis. On average, equities research analysts expect that Wabash National Co. will post 0.94 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.32 annualized dividend and a yield of 3.31%. Wabash National’s dividend payout ratio is currently -20.65%.

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.