Vestcor Inc Takes Position in Wabash National Co. (NYSE:WNC)

Vestcor Inc bought a new position in shares of Wabash National Co. (NYSE:WNC) during the third quarter, Holdings Channel.com reports. The fund bought 26,700 shares of the company’s stock, valued at approximately $512,000.

Several other large investors have also recently bought and sold shares of WNC. SummerHaven Investment Management LLC lifted its position in shares of Wabash National by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 31,310 shares of the company’s stock worth $684,000 after acquiring an additional 690 shares during the period. Kendall Capital Management lifted its position in Wabash National by 4.0% in the second quarter. Kendall Capital Management now owns 31,525 shares of the company’s stock worth $689,000 after purchasing an additional 1,200 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Wabash National during the third quarter worth $27,000. Gladius Capital Management LP bought a new stake in Wabash National in the 3rd quarter valued at $29,000. Finally, Innealta Capital LLC acquired a new position in shares of Wabash National in the 2nd quarter valued at $33,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Wabash National Price Performance

Shares of WNC stock opened at $18.60 on Friday. The stock’s fifty day simple moving average is $18.82 and its 200 day simple moving average is $19.84. Wabash National Co. has a one year low of $15.94 and a one year high of $30.07. The firm has a market cap of $806.12 million, a price-to-earnings ratio of -3.43 and a beta of 1.54. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.88 and a quick ratio of 1.12.

Wabash National (NYSE:WNC) last posted its earnings results 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 firm had revenue of $464.00 million during the quarter, compared to the consensus estimate of $477.35 million. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. On average, analysts expect that Wabash National Co. will post 1.29 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 9th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, January 9th. Wabash National’s dividend payout ratio (DPR) is currently -5.89%.

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.