Wabash National Corporation $WNC Shares Sold by Towle & Co.

Towle & Co. lowered its position in Wabash National Corporation (NYSE:WNC) by 37.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,717 shares of the company’s stock after selling 364,613 shares during the quarter. Wabash National makes up approximately 2.0% of Towle & Co.’s portfolio, making the stock its 28th biggest position. Towle & Co.’s holdings in Wabash National were worth $5,290,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co acquired a new position in Wabash National during the fourth quarter worth about $37,000. Quadrant Capital Group LLC lifted its position in shares of Wabash National by 515.4% during the 4th quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock valued at $47,000 after acquiring an additional 4,530 shares during the period. CWM LLC boosted its stake in shares of Wabash National by 82.6% during the 4th quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after acquiring an additional 2,758 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Wabash National by 104.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock worth $80,000 after acquiring an additional 4,129 shares in the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of Wabash National during the 3rd quarter worth approximately $102,000. 97.05% of the stock is owned by institutional investors and hedge funds.

Wabash National Stock Down 4.2%

WNC stock opened at $13.33 on Friday. The company’s 50 day simple moving average is $10.62 and its 200-day simple moving average is $9.89. The firm has a market capitalization of $542.21 million, a PE ratio of -8.33 and a beta of 1.43. Wabash National Corporation has a 12 month low of $6.63 and a 12 month high of $14.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Friday, May 1st. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.16). Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The company had revenue of $303.23 million for the quarter, compared to analyst estimates of $319.03 million. During the same quarter in the prior year, the firm earned ($0.58) earnings per share. The company’s revenue for the quarter was down 20.4% on a year-over-year basis. Equities analysts expect that Wabash National Corporation will post -1.75 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 2nd. Wabash National’s payout ratio is -20.00%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Wabash National in a research note on Wednesday. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Citizens Jmp initiated coverage on Wabash National in a report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Wall Street Zen cut Wabash National from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Wabash National Profile

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.