Point72 Asset Management L.P. Takes Position in Wabash National Co. (NYSE:WNC)

Point72 Asset Management L.P. acquired a new position in shares of Wabash National Co. (NYSE:WNC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,300 shares of the company’s stock, valued at approximately $181,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Algert Global LLC raised its stake in Wabash National by 105.2% during the second quarter. Algert Global LLC now owns 31,994 shares of the company’s stock worth $699,000 after acquiring an additional 16,404 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Wabash National by 11.9% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 72,006 shares of the company’s stock worth $1,573,000 after purchasing an additional 7,644 shares in the last quarter. Meros Investment Management LP lifted its stake in Wabash National by 27.7% in the 2nd quarter. Meros Investment Management LP now owns 399,466 shares of the company’s stock valued at $8,724,000 after purchasing an additional 86,537 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Wabash National by 15.6% in the 2nd quarter. Mackenzie Financial Corp now owns 12,431 shares of the company’s stock valued at $271,000 after purchasing an additional 1,677 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Wabash National by 1,311.6% in the second quarter. Millennium Management LLC now owns 279,900 shares of the company’s stock valued at $6,113,000 after buying an additional 260,072 shares in the last quarter. 97.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Wabash National Stock Performance

Shares of WNC stock opened at $18.13 on Friday. The business’s 50-day moving average price is $19.31 and its 200-day moving average price is $22.10. Wabash National Co. has a 12 month low of $17.71 and a 12 month high of $30.07. The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $816.27 million, a price-to-earnings ratio of 4.36 and a beta of 1.52.

Wabash National (NYSE:WNC) last posted its earnings results on Wednesday, July 24th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The firm 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 company’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. Equities research analysts forecast that Wabash National Co. will post 1.53 EPS for the current year.

Wabash National Dividend Announcement

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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, October 10th. Wabash National’s dividend payout ratio is currently 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.