Wabash National Co. (NYSE:WNC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its position in shares of Wabash National Co. (NYSE:WNC) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 38,972 shares of the company’s stock after selling 755 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Wabash National worth $851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of WNC. Clearbridge Investments LLC raised its position in Wabash National by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 513,784 shares of the company’s stock worth $13,163,000 after acquiring an additional 407,518 shares in the last quarter. Empowered Funds LLC bought a new stake in Wabash National during the first quarter worth approximately $3,052,000. LSV Asset Management boosted its holdings 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. Millrace Asset Group Inc. acquired a new position in Wabash National in the fourth quarter worth approximately $1,487,000. Finally, Wasatch Advisors LP boosted its stake 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 worth $41,340,000 after acquiring an additional 553,500 shares in the last quarter. Institutional investors own 97.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Wabash National Stock Down 3.0 %

WNC stock opened at $19.38 on Friday. The company’s 50 day simple moving average is $20.01 and its 200-day simple moving average is $22.75. Wabash National Co. has a 52-week low of $17.71 and a 52-week high of $30.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.15. The firm has a market capitalization of $872.55 million, a P/E ratio of 4.66 and a beta of 1.53.

Wabash National (NYSE:WNC) last announced its earnings results on Wednesday, July 24th. The company reported $0.64 earnings per share (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 the consensus estimate of $594.77 million. Wabash National had a net margin of 6.66% and a return on equity of 28.24%. The company’s revenue was down 19.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 EPS. As a group, equities research analysts anticipate that Wabash National Co. will post 1.53 EPS for the current year.

Wabash National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.08 per share. 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 1.65%. 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.