Ballentine Partners LLC Makes New $307,000 Investment in Wabash National Corporation (NYSE:WNC)

Ballentine Partners LLC acquired a new stake in shares of Wabash National Corporation (NYSE:WNC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,738 shares of the company's stock, valued at approximately $307,000. Ballentine Partners LLC owned approximately 0.07% of Wabash National at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in shares of Wabash National in the 1st quarter valued at about $333,000. GAMMA Investing LLC raised its holdings in shares of Wabash National by 982.1% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company's stock valued at $85,000 after purchasing an additional 6,973 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Wabash National in the 4th quarter valued at about $2,827,000. VELA Investment Management LLC bought a new stake in shares of Wabash National in the 1st quarter valued at about $1,420,000. Finally, Norges Bank bought a new stake in shares of Wabash National in the 4th quarter valued at about $4,341,000. Institutional investors own 97.05% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson lifted their price objective on shares of Wabash National from $7.50 to $9.50 and gave the stock a "neutral" rating in a research report on Monday, June 23rd.

Wabash National Stock Down 1.2%

Shares of Wabash National stock traded down $0.12 on Wednesday, reaching $9.86. The stock had a trading volume of 1,595,516 shares, compared to its average volume of 789,834. The company has a 50 day moving average price of $9.96 and a 200 day moving average price of $11.59. The company has a quick ratio of 0.91, a current ratio of 1.58 and a debt-to-equity ratio of 1.03. Wabash National Corporation has a 1 year low of $6.78 and a 1 year high of $24.03. The stock has a market capitalization of $412.80 million, a P/E ratio of -6.36 and a beta of 1.65.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.32). Wabash National had a positive return on equity of 3.49% and a negative net margin of 3.93%. The firm had revenue of $380.89 million during the quarter, compared to analysts' expectations of $414.55 million. During the same period in the previous year, the firm earned $0.39 EPS. The firm's quarterly revenue was down 26.1% on a year-over-year basis. As a group, equities research analysts forecast that Wabash National Corporation will post 0.94 EPS for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, July 3rd. Wabash National's dividend payout ratio is presently -20.65%.

Wabash National Company Profile

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.