455,604 Shares in Wabash National Corporation $WNC Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in Wabash National Corporation (NYSE:WNC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 455,604 shares of the company's stock, valued at approximately $6,151,000. Bank of New York Mellon Corp owned approximately 1.12% of Wabash National at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its position in Wabash National by 39.6% in the first quarter. Bank of America Corp DE now owns 220,248 shares of the company's stock worth $1,899,000 after buying an additional 62,519 shares during the last quarter. Royal Bank of Canada lifted its stake in Wabash National by 1,036.0% in the 1st quarter. Royal Bank of Canada now owns 50,621 shares of the company's stock worth $436,000 after purchasing an additional 46,165 shares in the last quarter. Empowered Funds LLC boosted its stake in Wabash National by 40.1% during the first quarter. Empowered Funds LLC now owns 589,884 shares of the company's stock valued at $5,085,000 after buying an additional 168,929 shares during the period. Quantinno Capital Management LP grew its position in Wabash National by 17.1% during the first quarter. Quantinno Capital Management LP now owns 174,796 shares of the company's stock worth $1,507,000 after buying an additional 25,483 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Wabash National by 13.2% during the 1st quarter. Renaissance Technologies LLC now owns 224,365 shares of the company's stock valued at $1,934,000 after acquiring an additional 26,100 shares during the last quarter. Hedge funds and other institutional investors own 97.05% of the company's stock.

Wabash National Stock Performance

WNC stock opened at $14.35 on Friday. Wabash National Corporation has a one year low of $6.63 and a one year high of $14.47. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $584.62 million, a price-to-earnings ratio of -7.44 and a beta of 1.45. The firm has a 50-day simple moving average of $12.90 and a two-hundred day simple moving average of $10.38.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.03. The business had revenue of $417.24 million for the quarter, compared to analyst estimates of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. Wabash National's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. On average, equities analysts forecast that Wabash National Corporation will post -2.41 EPS for the current fiscal year.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National's dividend payout ratio is presently -16.58%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WNC shares. Wall Street Zen upgraded Wabash National from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. DA Davidson reaffirmed a "buy" rating and set a $20.00 target price on shares of Wabash National in a report on Monday, August 24th. National Bank Financial set a $20.00 price target on shares of Wabash National in a research note on Wednesday, August 12th. Citizens Jmp initiated coverage on shares of Wabash National in a research report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wabash National in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.67.

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.

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