Wabash National Corporation (WNC) Stake Boosted by Smith Asset Management Group LP
Smith Asset Management Group LP boosted its position in Wabash National Corporation (NYSE:WNC) by 748.9% during the second quarter, Holdings Channel reports. The institutional investor owned 171,415 shares of the company’s stock after buying an additional 151,223 shares during the period. Smith Asset Management Group LP’s holdings in Wabash National Corporation were worth $3,768,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System boosted its position in Wabash National Corporation by 0.6% in the second quarter. Arizona State Retirement System now owns 31,400 shares of the company’s stock worth $690,000 after buying an additional 200 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Wabash National Corporation by 48.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 530,796 shares of the company’s stock worth $11,667,000 after buying an additional 172,125 shares during the last quarter. Trexquant Investment LP bought a new position in Wabash National Corporation during the second quarter worth $235,000. Morgan Dempsey Capital Management LLC bought a new position in Wabash National Corporation during the second quarter worth $654,000. Finally, Cigna Investments Inc. New bought a new position in Wabash National Corporation during the second quarter worth $345,000.
Wabash National Corporation (NYSE WNC) opened at 20.59 on Friday. The company’s 50 day moving average is $21.27 and its 200-day moving average is $20.90. The stock has a market cap of $1.22 billion, a PE ratio of 13.28 and a beta of 1.78. Wabash National Corporation has a 52-week low of $10.74 and a 52-week high of $24.16.
Wabash National Corporation (NYSE:WNC) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.42 by $0.05. Wabash National Corporation had a return on equity of 20.76% and a net margin of 5.77%. The company had revenue of $435.90 million for the quarter, compared to analyst estimates of $436.85 million. During the same period last year, the company posted $0.55 EPS. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities analysts anticipate that Wabash National Corporation will post $1.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 6th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, June 2nd. Wabash National Corporation’s dividend payout ratio (DPR) is 15.48%.
A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of Wabash National Corporation from a “sell” rating to a “hold” rating in a research report on Saturday. Craig Hallum raised shares of Wabash National Corporation from a “hold” rating to a “buy” rating in a research report on Thursday. Aegis increased their price objective on shares of Wabash National Corporation from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of Wabash National Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Stifel Nicolaus set a $22.00 price objective on shares of Wabash National Corporation and gave the stock a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.57.
Wabash National Corporation Company Profile
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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