Principal Financial Group Inc. Sells 46,557 Shares of Wabash National Co. (NYSE:WNC)

Principal Financial Group Inc. reduced its stake in shares of Wabash National Co. (NYSE:WNC) by 18.3% in the third quarter, HoldingsChannel.com reports. The firm owned 207,433 shares of the company’s stock after selling 46,557 shares during the period. Principal Financial Group Inc.’s holdings in Wabash National were worth $3,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kathleen S. Wright Associates Inc. purchased a new position in shares of Wabash National during the third quarter valued at approximately $27,000. Gladius Capital Management LP bought a new stake in Wabash National in the 3rd quarter worth about $29,000. Point72 Hong Kong Ltd purchased a new stake in Wabash National in the 2nd quarter valued at about $34,000. Meeder Asset Management Inc. bought a new position in shares of Wabash National during the 3rd quarter worth approximately $44,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Wabash National in the 2nd quarter worth approximately $66,000. 97.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Wabash National Price Performance

WNC opened at $17.00 on Friday. The firm has a market cap of $736.73 million, a P/E ratio of -3.13 and a beta of 1.54. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.12 and a current ratio of 1.88. Wabash National Co. has a fifty-two week low of $15.94 and a fifty-two week high of $30.07. The firm has a 50-day moving average of $18.61 and a 200 day moving average of $19.44.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The company had revenue of $464.00 million for the quarter, compared to analysts’ expectations of $477.35 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. On average, research analysts expect that Wabash National Co. will post 1.29 EPS for the current year.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.32 annualized dividend and a dividend yield of 1.88%. Wabash National’s payout ratio is -5.89%.

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.