Highbridge Capital Management LLC Lowers Position in Wabash National Co. (NYSE:WNC)

Highbridge Capital Management LLC cut its stake in shares of Wabash National Co. (NYSE:WNC) by 34.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,318 shares of the company’s stock after selling 5,890 shares during the period. Highbridge Capital Management LLC’s holdings in Wabash National were worth $258,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in WNC. US Bancorp DE lifted its holdings in shares of Wabash National by 246.9% in the second quarter. US Bancorp DE now owns 9,757 shares of the company’s stock valued at $215,000 after purchasing an additional 6,944 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Wabash National by 2.5% during the second quarter. Great West Life Assurance Co. Can now owns 89,890 shares of the company’s stock worth $1,976,000 after buying an additional 2,200 shares during the last quarter. Trexquant Investment LP acquired a new position in Wabash National during the second quarter worth approximately $235,000. Schwab Charles Investment Management Inc. increased its position in Wabash National by 48.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 530,796 shares of the company’s stock worth $11,667,000 after buying an additional 172,125 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Wabash National by 0.6% during the second quarter. Arizona State Retirement System now owns 31,400 shares of the company’s stock worth $690,000 after buying an additional 200 shares during the last quarter.

Shares of Wabash National Co. (WNC) traded up $1.00 during trading on Thursday, reaching $22.48. The company’s stock had a trading volume of 961,020 shares, compared to its average volume of 907,753. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.18 and a current ratio of 2.03. Wabash National Co. has a 52-week low of $16.39 and a 52-week high of $24.16. The firm has a market cap of $1,260.00, a P/E ratio of 16.65, a P/E/G ratio of 0.61 and a beta of 1.69.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). The business had revenue of $425.10 million for the quarter, compared to analyst estimates of $449.05 million. Wabash National had a return on equity of 18.42% and a net margin of 5.05%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. analysts forecast that Wabash National Co. will post 1.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 4th will be given a $0.075 dividend. This is a boost from Wabash National’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.30 annualized dividend and a yield of 1.33%. Wabash National’s dividend payout ratio (DPR) is presently 22.22%.

Several research firms have recently commented on WNC. ValuEngine downgraded Wabash National from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BMO Capital Markets reissued a “hold” rating on shares of Wabash National in a research report on Monday, October 23rd. Craig Hallum reissued a “buy” rating and set a $27.00 price target on shares of Wabash National in a research report on Friday, October 6th. Zacks Investment Research upgraded Wabash National from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, September 27th. Finally, Stifel Nicolaus restated a “hold” rating on shares of Wabash National in a report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.83.

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Wabash National Profile

Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.

Institutional Ownership by Quarter for Wabash National (NYSE:WNC)

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