Point72 DIFC Ltd Purchases New Position in Wabash National Co. (NYSE:WNC)

Point72 DIFC Ltd purchased a new position in shares of Wabash National Co. (NYSE:WNC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,579 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Wabash National in the 2nd quarter valued at $294,000. Point72 Asset Management L.P. acquired a new position in Wabash National in the second quarter valued at $181,000. Algert Global LLC raised its holdings in shares of Wabash National by 105.2% in the second quarter. Algert Global LLC now owns 31,994 shares of the company’s stock valued at $699,000 after buying an additional 16,404 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Wabash National by 11.9% during the second quarter. Pacific Ridge Capital Partners LLC now owns 72,006 shares of the company’s stock worth $1,573,000 after buying an additional 7,644 shares during the period. Finally, Meros Investment Management LP grew its holdings in shares of Wabash National by 27.7% during the second quarter. Meros Investment Management LP now owns 399,466 shares of the company’s stock worth $8,724,000 after buying an additional 86,537 shares during the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wabash National Stock Down 2.4 %

WNC stock opened at $18.72 on Wednesday. Wabash National Co. has a one year low of $17.71 and a one year high of $30.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.99. The company has a fifty day moving average of $19.46 and a 200-day moving average of $22.27. The stock has a market capitalization of $823.68 million, a PE ratio of 4.50 and a beta of 1.53.

Wabash National (NYSE:WNC) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $550.61 million during the quarter, compared to analysts’ expectations of $594.77 million. Wabash National had a net margin of 6.66% and a return on equity of 28.24%. The business’s revenue for the quarter was down 19.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. As a group, analysts expect that Wabash National Co. will post 1.53 EPS for the current year.

Wabash National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.08 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. Wabash National’s dividend payout ratio is presently 7.69%.

Analyst Ratings Changes

Separately, DA Davidson reaffirmed a “neutral” rating and set a $18.00 price objective on shares of Wabash National in a research note on Monday.

Wabash National Company 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.