Wabash National Co. (WNC) to Issue Quarterly Dividend of $0.08 on July 24th

Wabash National Co. (NYSE:WNC) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Stockholders of record on Thursday, July 3rd will be given a dividend of 0.08 per share on Thursday, July 24th. This represents a $0.32 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, July 3rd.

Wabash National has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wabash National to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 16.8%.

Wabash National Stock Up 2.8%

WNC stock opened at $9.66 on Friday. The business has a 50-day simple moving average of $10.02 and a 200 day simple moving average of $14.17. The company has a market cap of $404.25 million, a PE ratio of -1.48 and a beta of 1.57. The company has a quick ratio of 1.09, a current ratio of 1.93 and a debt-to-equity ratio of 2.10. Wabash National has a 52 week low of $6.78 and a 52 week high of $24.03.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.32). The business had revenue of $380.89 million for the quarter, compared to analyst estimates of $414.55 million. Wabash National had a positive return on equity of 14.72% and a negative net margin of 14.59%. The business’s revenue was down 26.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 earnings per share. Sell-side analysts anticipate that Wabash National will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Wabash National

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of Wabash National by 4.2% during the first quarter. Empowered Funds LLC now owns 202,429 shares of the company’s stock worth $2,237,000 after acquiring an additional 8,205 shares during the period. Royal Bank of Canada lifted its stake in shares of Wabash National by 93.9% in the 1st quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock valued at $339,000 after purchasing an additional 14,912 shares during the period. Caxton Associates LLP acquired a new stake in shares of Wabash National in the first quarter valued at about $166,000. AQR Capital Management LLC lifted its stake in Wabash National by 59.1% in the 1st quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock worth $2,483,000 after purchasing an additional 83,473 shares in the last quarter. Finally, Millennium Management LLC grew its position in Wabash National by 864.3% in the first quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after acquiring an additional 411,889 shares during the period. Institutional investors own 97.05% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on Wabash National from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, February 24th.

About Wabash National

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.