Wabash National Co. (WNC) Stake Lowered by California State Teachers Retirement System
California State Teachers Retirement System cut its holdings in Wabash National Co. (NYSE:WNC) by 11.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,551 shares of the company’s stock after selling 11,920 shares during the quarter. California State Teachers Retirement System’s holdings in Wabash National were worth $2,135,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. ETRADE Capital Management LLC purchased a new stake in shares of Wabash National during the second quarter worth approximately $257,000. Quantbot Technologies LP purchased a new stake in shares of Wabash National during the third quarter worth approximately $326,000. Yorktown Management & Research Co Inc increased its position in shares of Wabash National by 21.7% during the third quarter. Yorktown Management & Research Co Inc now owns 14,600 shares of the company’s stock worth $333,000 after purchasing an additional 2,600 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Wabash National by 15.7% during the second quarter. UBS Asset Management Americas Inc. now owns 15,497 shares of the company’s stock worth $341,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Wabash National during the third quarter worth approximately $407,000.
Several brokerages recently commented on WNC. Zacks Investment Research upgraded Wabash National from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Wednesday, September 27th. Craig Hallum reiterated a “buy” rating and set a $27.00 price target on shares of Wabash National in a research report on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating on shares of Wabash National in a research report on Friday, December 22nd. ValuEngine upgraded Wabash National from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Wabash National in a research report on Monday, October 23rd. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Wabash National currently has an average rating of “Buy” and a consensus target price of $23.83.
Shares of Wabash National Co. (NYSE WNC) opened at $22.27 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.18 and a current ratio of 2.03. Wabash National Co. has a 12-month low of $16.74 and a 12-month high of $24.16. The company has a market capitalization of $1,360.00, a P/E ratio of 16.50, a P/E/G ratio of 0.63 and a beta of 1.69.
Wabash National (NYSE:WNC) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). The company had revenue of $425.10 million for the quarter, compared to analyst estimates of $449.05 million. Wabash National had a return on equity of 18.42% and a net margin of 5.05%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. analysts predict that Wabash National Co. will post 1.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Thursday, January 4th will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, January 3rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Wabash National’s previous quarterly dividend of $0.06. Wabash National’s payout ratio is 22.22%.
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About Wabash National
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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