D.A. Davidson & CO. Makes New Investment in Wabash National Corporation (NYSE:WNC)

D.A. Davidson & CO. bought a new stake in shares of Wabash National Corporation (NYSE:WNC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,132 shares of the company's stock, valued at approximately $333,000. D.A. Davidson & CO. owned about 0.07% of Wabash National as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Wabash National by 982.1% during the first quarter. GAMMA Investing LLC now owns 7,683 shares of the company's stock valued at $85,000 after buying an additional 6,973 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Wabash National in the fourth quarter valued at approximately $2,827,000. Norges Bank purchased a new stake in shares of Wabash National in the fourth quarter valued at approximately $4,341,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Wabash National by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 925,952 shares of the company's stock valued at $15,862,000 after purchasing an additional 69,514 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in shares of Wabash National in the first quarter valued at approximately $3,818,000. Institutional investors own 97.05% of the company's stock.

Wabash National Trading Down 3.5%

Shares of NYSE WNC traded down $0.39 during trading hours on Friday, reaching $10.78. The stock had a trading volume of 416,253 shares, compared to its average volume of 785,037. The company has a current ratio of 1.58, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $451.27 million, a price-to-earnings ratio of -6.95 and a beta of 1.65. The business's fifty day moving average price is $9.84 and its two-hundred day moving average price is $11.74. Wabash National Corporation has a 52-week low of $6.78 and a 52-week high of $24.03.

Wabash National (NYSE:WNC - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $380.89 million during the quarter, compared to analysts' expectations of $414.55 million. Wabash National had a negative net margin of 3.93% and a positive return on equity of 3.49%. The firm's revenue for the quarter was down 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Analysts expect that Wabash National Corporation will post 0.94 EPS for the current fiscal year.

Wabash National Announces Dividend

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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.97%. Wabash National's dividend payout ratio is currently -20.65%.

Wall Street Analyst Weigh In

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

Wabash National 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.