Victory Capital Management Inc. Grows Stock Position in Wabash National Co. (NYSE:WNC)

Victory Capital Management Inc. raised its holdings in Wabash National Co. (NYSE:WNC) by 40.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,015,355 shares of the company’s stock after buying an additional 290,287 shares during the quarter. Victory Capital Management Inc.’s holdings in Wabash National were worth $22,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC grew its holdings in Wabash National by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 513,784 shares of the company’s stock valued at $13,163,000 after purchasing an additional 407,518 shares during the period. Empowered Funds LLC purchased a new stake in shares of Wabash National during the 1st quarter valued at $3,052,000. LSV Asset Management increased its holdings in shares of Wabash National by 8.8% during the 1st quarter. LSV Asset Management now owns 1,160,483 shares of the company’s stock worth $34,745,000 after buying an additional 93,444 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Wabash National during the 4th quarter worth $1,487,000. Finally, Wasatch Advisors LP raised its position in shares of Wabash National by 66.9% in the 1st quarter. Wasatch Advisors LP now owns 1,380,766 shares of the company’s stock worth $41,340,000 after buying an additional 553,500 shares during the period. Institutional investors and hedge funds own 97.05% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price target on Wabash National from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday.

Wabash National Trading Up 0.8 %

Shares of WNC stock opened at $18.66 on Thursday. Wabash National Co. has a fifty-two week low of $17.71 and a fifty-two week high of $30.07. The firm’s 50 day moving average price is $20.26 and its two-hundred day moving average price is $23.10. The stock has a market cap of $840.13 million, a price-to-earnings ratio of 4.49 and a beta of 1.53. The company has a quick ratio of 1.15, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Wabash National had a net margin of 6.66% and a return on equity of 28.24%. The firm had revenue of $550.61 million during the quarter, compared to analysts’ expectations of $594.77 million. During the same period in the prior year, the company earned $1.54 EPS. The firm’s revenue was down 19.8% on a year-over-year basis. On average, analysts anticipate that Wabash National Co. will post 1.53 EPS for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. Wabash National’s payout ratio is currently 7.69%.

Wabash National Company Profile

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.