Philadelphia Financial Management of San Francisco LLC Takes $9.81 Billion Position in Wabash National Corporation $WNC

Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Wabash National Corporation (NYSE:WNC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 726,847 shares of the company’s stock, valued at approximately $9,812,434,000. Wabash National comprises about 2.0% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of WNC. BlackRock Inc. bought a new position in Wabash National in the second quarter worth about $47,125,000. Goldman Sachs Group Inc. grew its holdings in shares of Wabash National by 161.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock valued at $9,585,000 after purchasing an additional 684,397 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Wabash National by 305.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company’s stock valued at $6,325,000 after purchasing an additional 482,942 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Wabash National during the 2nd quarter worth approximately $6,151,000. Finally, Millennium Management LLC raised its position in shares of Wabash National by 864.3% during the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after purchasing an additional 411,889 shares during the period. Institutional investors and hedge funds own 97.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citizens Jmp initiated coverage on Wabash National in a research report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 price objective for the company. National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. DA Davidson reaffirmed a “buy” rating and issued a $20.00 target price on shares of Wabash National in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.67.

Wabash National Price Performance

Shares of NYSE:WNC opened at $12.48 on Thursday. The firm’s 50 day moving average is $12.75 and its two-hundred day moving average is $10.27. Wabash National Corporation has a 52 week low of $6.63 and a 52 week high of $14.32. The firm has a market capitalization of $508.44 million, a P/E ratio of -6.47 and a beta of 1.44. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 1.75.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The business had revenue of $417.24 million during the quarter, compared to the consensus estimate of $402.85 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The business’s revenue was down 9.1% on a year-over-year basis. Analysts anticipate that Wabash National Corporation will post -2.41 earnings per share for the current year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, October 8th. Wabash National’s payout ratio is -16.58%.

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.