Bank of New York Mellon Corp Cuts Stock Holdings in Wabash National Co. (NYSE:WNC)

Bank of New York Mellon Corp decreased its stake in shares of Wabash National Co. (NYSE:WNC) by 34.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,486 shares of the company’s stock after selling 167,114 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Wabash National worth $5,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new position in Wabash National in the third quarter worth approximately $29,000. Meeder Asset Management Inc. bought a new stake in shares of Wabash National during the 3rd quarter valued at $44,000. EMC Capital Management raised its position in shares of Wabash National by 88.1% during the 4th quarter. EMC Capital Management now owns 8,250 shares of the company’s stock valued at $141,000 after purchasing an additional 3,864 shares during the period. HighTower Advisors LLC purchased a new position in Wabash National during the third quarter valued at $192,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Wabash National during the third quarter valued at $203,000. Institutional investors own 97.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price objective on shares of Wabash National from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, February 24th.

Insider Activity

In other news, SVP Michael N. Pettit sold 1,500 shares of Wabash National stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $17.19, for a total value of $25,785.00. Following the transaction, the senior vice president now owns 117,227 shares of the company’s stock, valued at $2,015,132.13. The trade was a 1.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.78% of the company’s stock.

Wabash National Price Performance

WNC stock opened at $11.04 on Monday. Wabash National Co. has a 12 month low of $10.34 and a 12 month high of $30.07. The company has a 50-day moving average price of $13.86 and a 200 day moving average price of $16.96. The stock has a market cap of $468.78 million, a PE ratio of -1.69 and a beta of 1.64. The company has a current ratio of 1.93, a quick ratio of 1.09 and a debt-to-equity ratio of 2.10.

Wabash National (NYSE:WNC) last announced its quarterly earnings data on Wednesday, January 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Wabash National had a negative net margin of 14.59% and a positive return on equity of 14.72%. During the same quarter in the prior year, the business posted $1.07 EPS. Equities research analysts anticipate that Wabash National Co. will post 0.94 earnings per share for the current year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.32 annualized dividend and a dividend yield of 2.90%. Wabash National’s dividend payout ratio is currently -4.91%.

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.