Nierenberg Investment Management Company Inc. Decreases Stake in Wabash National Corporation $WNC

Nierenberg Investment Management Company Inc. trimmed its holdings in shares of Wabash National Corporation (NYSE:WNC) by 83.8% during the third quarter, Holdings Channel reports. The fund owned 12,555 shares of the company’s stock after selling 65,000 shares during the quarter. Nierenberg Investment Management Company Inc.’s holdings in Wabash National were worth $124,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CenterBook Partners LP grew its position in shares of Wabash National by 263.6% during the second quarter. CenterBook Partners LP now owns 494,457 shares of the company’s stock worth $5,256,000 after buying an additional 358,478 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in 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 acquiring an additional 151,547 shares in the last quarter. First Trust Advisors LP bought a new position in Wabash National during the 2nd quarter valued at $32,629,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Wabash National during the 2nd quarter valued at $212,000. Finally, Entropy Technologies LP acquired a new position in Wabash National during the 2nd quarter worth $162,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Wabash National from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, February 24th. DA Davidson reissued a “neutral” rating and issued a $11.00 price objective on shares of Wabash National in a report on Thursday, February 19th. Wall Street Zen lowered Wabash National from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Finally, Zacks Research upgraded Wabash National from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Wabash National presently has an average rating of “Reduce” and a consensus target price of $10.00.

Wabash National Stock Down 2.6%

NYSE:WNC opened at $9.89 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $10.31 and a 200-day moving average of $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 52 week low of $6.78 and a 52 week high of $12.94.

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

Wabash National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Wabash National’s dividend payout ratio (DPR) is 6.57%.

Wabash National 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.