Rhumbline Advisers Lowers Stock Position in Wabash National Corporation (NYSE:WNC)

Rhumbline Advisers cut its position in shares of Wabash National Corporation (NYSE:WNC) by 49.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,987 shares of the company’s stock after selling 68,329 shares during the period. Rhumbline Advisers owned 0.16% of Wabash National worth $762,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Wabash National by 22.5% during the 4th quarter. First Trust Advisors LP now owns 1,468,605 shares of the company’s stock valued at $25,157,000 after buying an additional 269,846 shares in the last quarter. Norges Bank purchased a new position in shares of Wabash National during the 4th quarter valued at approximately $4,341,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Wabash National during the 4th quarter valued at approximately $2,828,000. Raymond James Financial Inc. purchased a new position in shares of Wabash National during the 4th quarter valued at approximately $2,827,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Wabash National by 163.9% during the 4th quarter. JPMorgan Chase & Co. now owns 256,471 shares of the company’s stock valued at $4,393,000 after buying an additional 159,278 shares in the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wabash National Trading Down 1.5%

Shares of WNC stock opened at $10.23 on Friday. The stock’s fifty day moving average is $9.38 and its two-hundred day moving average is $12.59. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.91 and a current ratio of 1.58. The firm has a market capitalization of $428.33 million, a P/E ratio of -6.60 and a beta of 1.61. Wabash National Corporation has a fifty-two week low of $6.78 and a fifty-two week high of $24.03.

Wabash National (NYSE:WNC) last announced its quarterly earnings data 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). The firm had revenue of $380.89 million during the quarter, compared to analysts’ expectations of $414.55 million. Wabash National had a negative net margin of 3.93% and a positive return on equity of 3.49%. The company’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Research analysts expect that Wabash National Corporation 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 issued a $0.08 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 3.13%. Wabash National’s payout ratio is currently -20.65%.

Wall Street Analysts Forecast Growth

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

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.