Towle & Co. Sells 149,224 Shares of Wabash National Corporation $WNC

Towle & Co. cut its holdings in shares of Wabash National Corporation (NYSE:WNC) by 15.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 792,813 shares of the company’s stock after selling 149,224 shares during the period. Wabash National comprises approximately 2.0% of Towle & Co.’s holdings, making the stock its 28th largest holding. Towle & Co. owned approximately 1.96% of Wabash National worth $7,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WNC. GSA Capital Partners LLP acquired a new position in Wabash National in the third quarter worth $694,000. JPMorgan Chase & Co. increased its stake in shares of Wabash National by 210.2% in the third quarter. JPMorgan Chase & Co. now owns 122,311 shares of the company’s stock valued at $1,207,000 after buying an additional 82,879 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Wabash National in the third quarter valued at $112,000. Allianz Asset Management GmbH raised its holdings in shares of Wabash National by 48.9% in the third quarter. Allianz Asset Management GmbH now owns 461,499 shares of the company’s stock valued at $4,555,000 after buying an additional 151,547 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in Wabash National by 423.5% during the 3rd quarter. AlphaQuest LLC now owns 81,801 shares of the company’s stock worth $807,000 after buying an additional 66,176 shares in the last quarter. 97.05% of the stock is owned by institutional investors and hedge funds.

Wabash National Trading Up 1.1%

Shares of NYSE WNC opened at $11.60 on Friday. Wabash National Corporation has a fifty-two week low of $6.78 and a fifty-two week high of $12.94. The firm has a market capitalization of $469.23 million, a P/E ratio of 2.38 and a beta of 1.67. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.39 and a quick ratio of 0.79. The company’s 50 day simple moving average is $10.21 and its 200 day simple moving average is $9.81.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, February 4th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.16). The business had revenue of $321.45 million for the quarter, compared to analyst estimates of $318.32 million. Wabash National had a negative return on equity of 22.79% and a net margin of 13.71%.Wabash National’s revenue was down 22.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. On average, analysts predict that Wabash National Corporation will post 0.94 EPS for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.32 annualized dividend and a yield of 2.8%. Wabash National’s dividend payout ratio is presently 6.57%.

Analyst Upgrades and Downgrades

WNC has been the subject of several research reports. Zacks Research upgraded shares of Wabash National from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen lowered shares of Wabash National from a “hold” rating to a “strong sell” rating in a report on Saturday. DA Davidson reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Wabash National in a report on Thursday. Finally, Weiss Ratings upgraded Wabash National from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Wabash National presently has an average rating of “Hold” and an average price target of $10.00.

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.