Pacer Advisors Inc. Cuts Stock Position in Wabash National Co. (NYSE:WNC)

Pacer Advisors Inc. trimmed its position in shares of Wabash National Co. (NYSE:WNC) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,391,749 shares of the company’s stock after selling 346,356 shares during the period. Pacer Advisors Inc. owned about 5.44% of Wabash National worth $52,236,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Wabash National during the second quarter worth approximately $33,000. Quadrant Capital Group LLC raised its position in Wabash National by 61.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $38,000 after purchasing an additional 565 shares during the period. Tradewinds Capital Management LLC purchased a new position in Wabash National in the 1st quarter worth $48,000. CWM LLC lifted its stake in 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 purchasing an additional 1,771 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Wabash National during the second quarter valued at about $66,000. Institutional investors own 97.05% of the company’s stock.

Wabash National Stock Performance

NYSE:WNC opened at $19.38 on Friday. The firm has a market cap of $872.55 million, a PE ratio of 4.66 and a beta of 1.53. Wabash National Co. has a fifty-two week low of $17.71 and a fifty-two week high of $30.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.99. The business has a 50 day moving average price of $20.01 and a 200-day moving average price of $22.72.

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

Wabash National Dividend Announcement

The firm 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. The ex-dividend date is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.65%. Wabash National’s dividend payout ratio is presently 7.69%.

Analysts Set New Price Targets

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

Wabash National 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.