HighTower Advisors LLC Makes New Investment in Wabash National Co. (NYSE:WNC)

HighTower Advisors LLC bought a new position in Wabash National Co. (NYSE:WNC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,118 shares of the company’s stock, valued at approximately $192,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WNC. Victory Capital Management Inc. raised its position 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 worth $22,175,000 after acquiring an additional 290,287 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Wabash National by 1,311.6% in the 2nd quarter. Millennium Management LLC now owns 279,900 shares of the company’s stock valued at $6,113,000 after purchasing an additional 260,072 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Wabash National by 19.7% in 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 period. CX Institutional acquired a new stake in shares of Wabash National in the third quarter valued at about $2,322,000. Finally, Wasatch Advisors LP boosted its holdings in Wabash National by 6.7% during the third quarter. Wasatch Advisors LP now owns 1,875,190 shares of the company’s stock worth $35,985,000 after buying an additional 117,704 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Stock Performance

Wabash National stock opened at $17.12 on Thursday. The stock has a fifty day moving average price of $18.71 and a 200 day moving average price of $19.59. The company has a current ratio of 1.88, a quick ratio of 1.12 and a debt-to-equity ratio of 1.97. Wabash National Co. has a 52 week low of $15.94 and a 52 week high of $30.07. The firm has a market capitalization of $741.93 million, a P/E ratio of -3.15 and a beta of 1.54.

Wabash National (NYSE:WNC) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The company had revenue of $464.00 million for the quarter, compared to analysts’ expectations of $477.35 million. During the same quarter in the previous year, the company earned $1.16 earnings per share. The company’s revenue was down 26.7% on a year-over-year basis. Equities research analysts anticipate that Wabash National Co. will post 1.29 earnings per share for the current year.

Wabash National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.87%. Wabash National’s dividend payout ratio (DPR) is -5.89%.

Analysts Set New Price Targets

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

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.