Wabash National Corporation $WNC Stock Position Lowered by Meros Investment Management LP

Meros Investment Management LP lessened its position in Wabash National Corporation (NYSE:WNC) by 12.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 563,619 shares of the company’s stock after selling 81,829 shares during the quarter. Wabash National makes up approximately 1.9% of Meros Investment Management LP’s investment portfolio, making the stock its 24th largest position. Meros Investment Management LP’s holdings in Wabash National were worth $4,875,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co acquired a new position in shares of Wabash National in the 4th quarter worth $37,000. Quadrant Capital Group LLC grew its holdings in shares of Wabash National by 515.4% in the 4th quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock worth $47,000 after acquiring an additional 4,530 shares during the last quarter. CWM LLC grew its holdings in shares of Wabash National by 82.6% in the 4th quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after acquiring an additional 2,758 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Wabash National by 104.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock worth $80,000 after acquiring an additional 4,129 shares during the last quarter. Finally, Inceptionr LLC acquired a new position in shares of Wabash National in the 3rd quarter worth $102,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings cut Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. DA Davidson restated a “neutral” rating and issued a $8.50 target price on shares of Wabash National in a report on Thursday, May 21st. Finally, Wall Street Zen cut Wabash National from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Wabash National has a consensus rating of “Reduce” and an average target price of $8.75.

Wabash National Stock Down 2.9%

NYSE:WNC opened at $9.43 on Tuesday. The firm has a market capitalization of $383.52 million, a price-to-earnings ratio of -5.89 and a beta of 1.55. Wabash National Corporation has a 1-year low of $6.63 and a 1-year high of $12.94. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55. The business’s fifty day moving average price is $8.20 and its 200 day moving average price is $9.17.

Wabash National (NYSE:WNC) last posted its quarterly earnings results on Friday, May 1st. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.16). The business had revenue of $303.23 million for the quarter, compared to analyst estimates of $319.03 million. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The firm’s quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.58) earnings per share. On average, sell-side analysts forecast that Wabash National Corporation will post -1.75 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, July 2nd. Wabash National’s payout ratio is presently -20.00%.

About Wabash National

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.