Nierenberg Investment Management Company Inc. Trims Position in Wabash National Corporation $WNC

Nierenberg Investment Management Company Inc. lowered its holdings in Wabash National Corporation (NYSE:WNC) by 83.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,555 shares of the company’s stock after selling 65,000 shares during the period. Nierenberg Investment Management Company Inc.’s holdings in Wabash National were worth $124,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Wabash National by 93.9% in the 1st quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock valued at $339,000 after buying an additional 14,912 shares during the period. AQR Capital Management LLC boosted its position in shares of Wabash National by 59.1% in the first quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock worth $2,483,000 after acquiring an additional 83,473 shares during the last quarter. Millennium Management LLC boosted its position in shares of Wabash National by 864.3% in the first 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 during the last quarter. Caxton Associates LLP purchased a new stake in Wabash National in the first quarter valued at approximately $166,000. Finally, Empowered Funds LLC increased its position in Wabash National by 4.2% during the first quarter. Empowered Funds LLC now owns 202,429 shares of the company’s stock worth $2,237,000 after purchasing an additional 8,205 shares during the last quarter. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Trading Down 2.6%

NYSE:WNC opened at $9.89 on Tuesday. The business’s 50-day moving average is $10.31 and its two-hundred day moving average is $9.80. The firm has a market capitalization of $399.75 million, a PE ratio of 2.03 and a beta of 1.66. Wabash National Corporation has a 12 month low of $6.78 and a 12 month high of $12.94. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.39 and a quick ratio of 0.79.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, February 4th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.16). The company had revenue of $321.45 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 22.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. Research analysts predict that Wabash National Corporation will post 0.94 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, April 23rd. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, April 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. Wabash National’s dividend payout ratio (DPR) is currently 6.57%.

Analyst Ratings Changes

WNC has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Wabash National from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. Weiss Ratings cut Wabash National from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, February 24th. DA Davidson reissued a “neutral” rating and set a $11.00 price target on shares of Wabash National in a research report on Thursday, February 19th. Finally, Zacks Research upgraded Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price 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.