RWWM Inc. Reduces Holdings in Wabash National Corporation $WNC

RWWM Inc. reduced its position in Wabash National Corporation (NYSE:WNC) by 55.5% in the 1st quarter, Holdings Channel reports. The firm owned 55,375 shares of the company’s stock after selling 69,071 shares during the quarter. Wabash National accounts for about 0.0% of RWWM Inc.’s portfolio, making the stock its 29th largest position. RWWM Inc.’s holdings in Wabash National were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Wabash National by 0.5% during the 4th quarter. Invesco Ltd. now owns 172,931 shares of the company’s stock worth $1,496,000 after purchasing an additional 941 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Wabash National by 6.9% during the fourth quarter. Deutsche Bank AG now owns 31,618 shares of the company’s stock worth $273,000 after buying an additional 2,052 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Wabash National by 12.6% in the second quarter. Raymond James Financial Inc. now owns 18,519 shares of the company’s stock valued at $197,000 after buying an additional 2,078 shares during the last quarter. Man Group plc raised its position in shares of Wabash National by 4.4% in the third quarter. Man Group plc now owns 53,556 shares of the company’s stock valued at $529,000 after buying an additional 2,235 shares during the last quarter. Finally, CWM LLC raised its position in shares of Wabash National by 82.6% in the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock valued at $53,000 after buying an additional 2,758 shares during the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Price Performance

Shares of WNC stock opened at $13.47 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77. The firm’s 50-day moving average is $9.78 and its two-hundred day moving average is $9.67. Wabash National Corporation has a 12 month low of $6.63 and a 12 month high of $14.32. The company has a market capitalization of $547.74 million, a PE ratio of -8.42 and a beta of 1.43.

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

Wabash National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a $0.08 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 2.4%. Wabash National’s dividend payout ratio is currently -20.00%.

Analyst Ratings Changes

WNC has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Wabash National from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings downgraded shares of Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Finally, DA Davidson upgraded shares of Wabash National from a “neutral” rating to a “buy” rating and increased their price objective for the company from $8.50 to $20.00 in a report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

Wabash National Company 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.