Sei Investments Co. Trims Stock Position in Wabash National Co. (NYSE:WNC)

Sei Investments Co. cut its stake in shares of Wabash National Co. (NYSE:WNC) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 266,520 shares of the company’s stock after selling 55,989 shares during the quarter. Sei Investments Co. owned approximately 0.61% of Wabash National worth $5,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WNC. Wasatch Advisors LP increased its position in shares of Wabash National by 66.9% during the first quarter. Wasatch Advisors LP now owns 1,380,766 shares of the company’s stock worth $41,340,000 after acquiring an additional 553,500 shares during the period. Victory Capital Management Inc. raised its stake in Wabash National by 40.0% in the second quarter. Victory Capital Management Inc. now owns 1,015,355 shares of the company’s stock worth $22,175,000 after buying an additional 290,287 shares in the last quarter. American Century Companies Inc. raised its stake in Wabash National by 19.7% in the second quarter. American Century Companies Inc. now owns 1,095,915 shares of the company’s stock worth $23,935,000 after buying an additional 180,080 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Wabash National by 84.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 263,731 shares of the company’s stock worth $7,896,000 after buying an additional 120,919 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in Wabash National in the fourth quarter worth approximately $3,010,000. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “neutral” rating and issued a $18.00 price objective on shares of Wabash National in a research note on Monday.

Wabash National Stock Performance

Shares of NYSE:WNC opened at $19.19 on Tuesday. The firm has a 50 day moving average of $19.61 and a 200 day moving average of $22.38. The company has a market capitalization of $844.36 million, a price-to-earnings ratio of 4.61 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 Co. has a 52 week low of $17.71 and a 52 week high of $30.07.

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

Wabash National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, October 10th. Wabash National’s payout ratio is presently 7.69%.

About Wabash National

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.