Wabash National Co. (NYSE:WNC) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in Wabash National Co. (NYSE:WNC) by 4.0% during the second quarter, HoldingsChannel.com reports. The fund owned 504,031 shares of the company’s stock after selling 21,042 shares during the period. Clearbridge Investments LLC’s holdings in Wabash National were worth $11,008,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WNC. Empowered Funds LLC purchased a new position in Wabash National during the first quarter worth approximately $3,052,000. LSV Asset Management lifted its position in Wabash National by 8.8% during the first 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 in the last quarter. Wasatch Advisors LP lifted its position in 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 buying an additional 553,500 shares in the last quarter. Victory Capital Management Inc. lifted its position in Wabash National by 40.0% during 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. Finally, Raymond James & Associates lifted its position in Wabash National by 42.4% during the second quarter. Raymond James & Associates now owns 202,034 shares of the company’s stock worth $4,412,000 after buying an additional 60,178 shares in the last quarter. 97.05% of the stock is owned by institutional investors and hedge funds.

Wabash National Price Performance

NYSE:WNC opened at $18.13 on Friday. Wabash National Co. has a 52 week low of $17.71 and a 52 week high of $30.07. The company has a quick ratio of 1.15, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $816.27 million, a P/E ratio of 4.36 and a beta of 1.52. The stock’s fifty day moving average is $19.31 and its two-hundred day moving average is $22.14.

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

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.77%. Wabash National’s dividend payout ratio is currently 7.69%.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “neutral” rating and set a $18.00 price objective on shares of Wabash National in a research report on Monday, September 30th.

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.