Bank of New York Mellon Corp Has $2.06 Million Stock Position in Wabash National Corporation (NYSE:WNC)

Key Points

• Bank of New York Mellon Corp reduced its stake in Wabash National Corporation by 42.3% in the first quarter, selling 136,327 shares and leaving it with 186,159 shares.
• Wabash National reported a loss of $0.15 earnings per share for the past quarter, yet exceeded analysts' expectations of a loss of $0.31, with revenues of $458.82 million.
• The company declared a quarterly dividend of $0.08 per share, with an annualized yield of 3.08%, despite having a negative dividend payout ratio of -13.22%.

Bank of New York Mellon Corp lowered its stake in shares of Wabash National Corporation (NYSE:WNC - Free Report) by 42.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,159 shares of the company's stock after selling 136,327 shares during the period. Bank of New York Mellon Corp owned approximately 0.44% of Wabash National worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of Wabash National by 255.9% during the 1st quarter. Parallel Advisors LLC now owns 2,395 shares of the company's stock valued at $26,000 after purchasing an additional 1,722 shares in the last quarter. Curat Global LLC bought a new position in shares of Wabash National during the 1st quarter valued at about $37,000. GAMMA Investing LLC lifted its holdings in shares of Wabash National by 982.1% during 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. Brevan Howard Capital Management LP bought a new position in shares of Wabash National during the 4th quarter valued at about $212,000. Finally, ProShare Advisors LLC bought a new position in shares of Wabash National during the 4th quarter valued at about $222,000. Institutional investors own 97.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson boosted their target price on Wabash National from $7.50 to $9.50 and gave the company a "neutral" rating in a research note on Monday, June 23rd.

Wabash National Stock Down 5.1%

NYSE WNC traded down $0.53 during trading on Wednesday, hitting $9.93. The stock had a trading volume of 1,236,167 shares, compared to its average volume of 1,028,228. The company has a market capitalization of $415.77 million, a PE ratio of -4.10 and a beta of 1.65. The company's 50-day moving average price is $10.11 and its two-hundred day moving average price is $11.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.00 and a current ratio of 1.68. Wabash National Corporation has a 12 month low of $6.78 and a 12 month high of $21.99.

Wabash National (NYSE:WNC - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.16. The firm had revenue of $458.82 million for the quarter, compared to analysts' expectations of $435.75 million. Wabash National had a negative return on equity of 7.91% and a negative net margin of 6.38%. The business's quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, sell-side analysts forecast that Wabash National Corporation will post 0.94 EPS for the current year.

Wabash National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, July 3rd. Wabash National's payout ratio is -13.22%.

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.