Philadelphia Financial Management of San Francisco LLC Takes $9.81 Billion Position in Wabash National Corporation $WNC

Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Wabash National Corporation (NYSE:WNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 726,847 shares of the company’s stock, valued at approximately $9,812,434,000. Wabash National makes up approximately 2.0% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 14th largest holding. Philadelphia Financial Management of San Francisco LLC owned about 1.78% of Wabash National as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Wabash National during the 2nd quarter worth $47,125,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock valued at $17,975,000 after buying an additional 36,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Wabash National by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock valued at $14,291,000 after buying an additional 247,345 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Wabash National by 17.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock valued at $13,394,000 after acquiring an additional 233,979 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Wabash National by 4.3% during the second quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock valued at $15,367,000 after acquiring an additional 59,054 shares in the last quarter. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on WNC shares. Citizens Jmp initiated coverage on Wabash National in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price target on the stock. Wall Street Zen upgraded Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Wabash National in a report on Wednesday, August 12th. DA Davidson restated a “buy” rating and set a $20.00 price objective on shares of Wabash National in a report on Monday. Finally, National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. 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 stock. According to MarketBeat.com, Wabash National currently has an average rating of “Hold” and an average price target of $21.67.

Wabash National Price Performance

WNC opened at $12.48 on Thursday. The company has a 50-day moving average of $12.75 and a 200-day moving average of $10.27. The company has a market capitalization of $508.44 million, a P/E ratio of -6.47 and a beta of 1.44. Wabash National Corporation has a 1-year low of $6.63 and a 1-year high of $14.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

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

Wabash National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National’s dividend payout ratio (DPR) is currently -16.58%.

Wabash National 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.