Corton Capital Inc. Invests $111,000 in Wabash National Corporation $WNC

Corton Capital Inc. bought a new stake in shares of Wabash National Corporation (NYSE:WNC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,438 shares of the company’s stock, valued at approximately $111,000.

A number of other institutional investors also recently bought and sold shares of the stock. VELA Investment Management LLC increased its position in Wabash National by 115.7% during the second quarter. VELA Investment Management LLC now owns 277,206 shares of the company’s stock valued at $2,947,000 after acquiring an additional 148,666 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Wabash National by 61.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 309,952 shares of the company’s stock worth $3,295,000 after purchasing an additional 117,554 shares during the period. Mutual Advisors LLC grew its holdings in Wabash National by 49.3% during the 2nd quarter. Mutual Advisors LLC now owns 91,823 shares of the company’s stock valued at $915,000 after purchasing an additional 30,340 shares during the last quarter. Inspire Investing LLC grew its holdings in Wabash National by 17.1% during the 2nd quarter. Inspire Investing LLC now owns 36,431 shares of the company’s stock valued at $387,000 after purchasing an additional 5,333 shares during the last quarter. Finally, Polaris Capital Management LLC raised its position in Wabash National by 35.1% in the 2nd quarter. Polaris Capital Management LLC now owns 132,100 shares of the company’s stock worth $1,404,000 after purchasing an additional 34,300 shares during the period. 97.05% of the stock is currently owned by institutional investors.

Wabash National Stock Down 2.8%

Wabash National stock opened at $7.70 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 1.13. The firm has a market cap of $315.22 million, a P/E ratio of -3.18 and a beta of 1.66. The business has a fifty day moving average of $9.92 and a two-hundred day moving average of $9.94. Wabash National Corporation has a twelve month low of $6.78 and a twelve month high of $20.63.

Wabash National (NYSE:WNC) last released its quarterly earnings results on Wednesday, December 1st. The company reported $0.22 EPS for the quarter. The firm had revenue of $482.57 million during the quarter. Wabash National had a negative return on equity of 7.91% and a negative net margin of 6.38%. Wabash National has set its Q4 2021 guidance at $0.100-$0.150 EPS. On average, analysts forecast that Wabash National Corporation will post 0.94 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Thursday, October 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, October 2nd. Wabash National’s dividend payout ratio (DPR) is currently 5.26%.

Analyst Upgrades and Downgrades

WNC has been the subject of several recent analyst reports. DA Davidson dropped their target price on Wabash National from $9.50 to $9.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. National Bankshares set a $9.00 price objective on Wabash National in a report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Wabash National in a research note on Wednesday, October 8th. Zacks Research lowered shares of Wabash National from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen cut shares of Wabash National from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and a consensus target price of $9.00.

Wabash National 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.