Towle & Co. Has $7.83 Million Stock Holdings in Wabash National Corporation $WNC

Towle & Co. lowered its position in shares of Wabash National Corporation (NYSE:WNC) by 15.8% in the third quarter, Holdings Channel reports. The firm owned 792,813 shares of the company’s stock after selling 149,224 shares during the period. Wabash National accounts for 2.0% of Towle & Co.’s investment portfolio, making the stock its 28th biggest holding. Towle & Co.’s holdings in Wabash National were worth $7,825,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. First Trust Advisors LP bought a new position in shares of Wabash National during the second quarter worth $32,629,000. Ameriprise Financial Inc. raised its stake in Wabash National by 4.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock worth $15,367,000 after buying an additional 59,054 shares during the period. CenterBook Partners LP lifted its holdings in 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 acquiring an additional 358,478 shares in the last quarter. Jane Street Group LLC lifted its holdings in Wabash National by 204.3% during the first quarter. Jane Street Group LLC now owns 463,191 shares of the company’s stock worth $5,118,000 after acquiring an additional 310,998 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake 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 during the period. Institutional investors own 97.05% of the company’s stock.

Wabash National Trading Up 1.1%

NYSE WNC opened at $11.60 on Friday. Wabash National Corporation has a 52 week low of $6.78 and a 52 week high of $12.94. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 1.39. The stock’s 50 day moving average price is $10.21 and its two-hundred day moving average price is $9.81. The stock has a market capitalization of $469.23 million, a price-to-earnings ratio of 2.38 and a beta of 1.67.

Wabash National (NYSE:WNC) last issued its quarterly 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 business had revenue of $321.45 million for the quarter, compared to the consensus estimate 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 revenue was down 22.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, analysts anticipate that Wabash National Corporation will post 0.94 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, April 23rd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.32 annualized dividend and a yield of 2.8%. Wabash National’s payout ratio is 6.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WNC. DA Davidson reaffirmed a “neutral” rating and set a $11.00 price target on shares of Wabash National in a research report on Thursday. Zacks Research upgraded shares of Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen lowered shares of Wabash National from a “hold” rating to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings upgraded shares of Wabash National from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

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.