148,079 Shares in Wabash National Corporation $WNC Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new position in shares of Wabash National Corporation (NYSE:WNC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 148,079 shares of the company’s stock, valued at approximately $1,999,000.

Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Wabash National by 93.9% in the first quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock worth $339,000 after buying an additional 14,912 shares during the period. AQR Capital Management LLC raised its position in Wabash National by 59.1% during the first quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock valued at $2,483,000 after buying an additional 83,473 shares during the period. Millennium Management LLC lifted its stake in Wabash National by 864.3% in the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after acquiring an additional 411,889 shares in the last quarter. Caxton Associates LLP purchased a new stake in Wabash National in the 1st quarter worth about $166,000. Finally, Jane Street Group LLC boosted its position in Wabash National by 204.3% during the 1st quarter. Jane Street Group LLC now owns 463,191 shares of the company’s stock worth $5,118,000 after acquiring an additional 310,998 shares during the period. 97.05% of the stock is owned by institutional investors and hedge funds.

Wabash National Stock Performance

Shares of NYSE WNC opened at $14.29 on Friday. The business’s 50-day moving average price is $12.89 and its two-hundred day moving average price is $10.35. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.31 and a quick ratio of 0.80. Wabash National Corporation has a one year low of $6.63 and a one year high of $14.45. The company has a market capitalization of $582.17 million, a P/E ratio of -7.40 and a beta of 1.45.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.03. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The company had revenue of $417.24 million for the quarter, compared to analyst estimates of $402.85 million. During the same period in the prior year, the firm posted ($0.15) EPS. The business’s revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that Wabash National Corporation will post -2.41 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be issued a $0.08 dividend. The ex-dividend date is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a yield of 2.2%. Wabash National’s dividend payout ratio is currently -16.58%.

Analyst Ratings Changes

Several research firms have weighed in on WNC. National Bank Financial set a $20.00 target price on Wabash National in a research note on Wednesday, August 12th. DA Davidson reissued a “buy” rating and issued a $20.00 price target on shares of Wabash National in a research report on Monday, August 24th. Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wabash National in a research report on Wednesday, August 12th. Finally, Citizens Jmp began coverage on shares of Wabash National in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.67.

Wabash National Company Profile

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.