Exchange Traded Concepts LLC Acquires 18,524 Shares of Wabash National Co. (NYSE:WNC)

Exchange Traded Concepts LLC boosted its holdings in Wabash National Co. (NYSE:WNC) by 38.1% in the third quarter, Holdings Channel reports. The institutional investor owned 67,142 shares of the company’s stock after acquiring an additional 18,524 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Wabash National were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Wabash National during the 2nd quarter valued at $33,000. Point72 Hong Kong Ltd bought a new stake in shares of Wabash National during the second quarter valued at about $34,000. Tradewinds Capital Management LLC purchased a new stake in shares of Wabash National in the first quarter worth about $48,000. CWM LLC lifted its holdings in shares of Wabash National by 353.5% in the second quarter. CWM LLC now owns 2,272 shares of the company’s stock worth $50,000 after buying an additional 1,771 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Wabash National in the second quarter valued at approximately $66,000. Institutional investors own 97.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Wabash National Price Performance

Wabash National stock opened at $18.90 on Thursday. The business has a 50-day simple moving average of $19.01 and a 200 day simple moving average of $21.51. Wabash National Co. has a 52 week low of $17.68 and a 52 week high of $30.07. The stock has a market cap of $831.60 million, a price-to-earnings ratio of 5.80 and a beta of 1.52. 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 issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The company had revenue of $550.61 million during the quarter, compared to analyst estimates of $594.77 million. Wabash National had a return on equity of 28.24% and a net margin of 6.66%. Wabash National’s revenue was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, research 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 disclosed 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, October 10th. Wabash National’s dividend payout ratio (DPR) is currently 9.82%.

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.