Inspire Investing LLC Purchases 3,789 Shares of Wabash National Co. (NYSE:WNC)

Inspire Investing LLC boosted its holdings in shares of Wabash National Co. (NYSE:WNC) by 31.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,953 shares of the company’s stock after buying an additional 3,789 shares during the period. Inspire Investing LLC’s holdings in Wabash National were worth $348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wasatch Advisors LP boosted its position in shares of Wabash National by 66.9% during the 1st quarter. Wasatch Advisors LP now owns 1,380,766 shares of the company’s stock valued at $41,340,000 after acquiring an additional 553,500 shares during the last quarter. 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 valued at $22,175,000 after purchasing an additional 290,287 shares in the last quarter. American Century Companies Inc. lifted its position in Wabash National by 19.7% during the second quarter. American Century Companies Inc. now owns 1,095,915 shares of the company’s stock valued at $23,935,000 after purchasing an additional 180,080 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Wabash National by 84.7% in the 1st 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 shares of Wabash National in the 4th quarter worth $3,010,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Stock Down 1.7 %

Shares of WNC opened at $19.05 on Wednesday. The firm has a market cap of $857.69 million, a P/E ratio of 4.58 and a beta of 1.53. Wabash National Co. has a 1 year low of $17.71 and a 1 year high of $30.07. The stock has a 50 day simple moving average of $19.85 and a two-hundred day simple moving average of $22.57. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.15.

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

Wabash National Announces Dividend

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. This represents a $0.32 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, October 10th. Wabash National’s dividend payout ratio is presently 7.69%.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price objective on shares of Wabash National from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, September 9th.

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.