Empowered Funds LLC Purchases 168,929 Shares of Wabash National Corporation $WNC

Key Points

• Empowered Funds LLC increased its Wabash National position by 40.1%, purchasing 168,929 additional shares to own 589,884 shares valued at approximately $5.1 million. Institutional investors collectively hold 97.05% of the company.
• Analyst sentiment remains mixed, with two Buy ratings, one Hold, and one Sell; the stock has an average rating of Hold and an average price target of $18.00.
• Wabash National reported a quarterly loss of $0.53 per share, slightly better than estimates, while revenue of $417.24 million exceeded expectations but declined 9.1% year over year. Shares opened at $12.56, and the company maintains a quarterly dividend of $0.08 per share.

Empowered Funds LLC grew its position in Wabash National Corporation (NYSE:WNC - Free Report) by 40.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,884 shares of the company's stock after acquiring an additional 168,929 shares during the quarter. Empowered Funds LLC owned about 1.45% of Wabash National worth $5,085,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Wabash National by 2.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company's stock worth $17,975,000 after purchasing an additional 36,226 shares during the period. Dimensional Fund Advisors LP raised its position in Wabash National by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company's stock worth $14,291,000 after purchasing an additional 247,345 shares during the period. Charles Schwab Investment Management Inc. raised its position in Wabash National by 17.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company's stock worth $13,394,000 after purchasing an additional 233,979 shares during the period. Ameriprise Financial Inc. raised its position in Wabash National by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company's stock worth $15,367,000 after purchasing an additional 59,054 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Wabash National by 161.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company's stock worth $9,585,000 after purchasing an additional 684,397 shares during the last quarter. Institutional investors own 97.05% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citizens Jmp began coverage on Wabash National in a research report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 target price for the company. Wall Street Zen upgraded Wabash National from a "strong sell" rating to a "sell" rating in a report on Saturday. DA Davidson reissued a "buy" rating and set a $20.00 price target on shares of Wabash National in a research note on Wednesday, July 22nd. Finally, Weiss Ratings cut Wabash National from a "sell (d+)" rating to a "sell (d-)" rating in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $18.00.

Wabash National Trading Up 1.3%

WNC stock opened at $12.56 on Friday. Wabash National Corporation has a 12 month low of $6.63 and a 12 month high of $14.32. The firm's 50-day moving average is $11.31 and its 200 day moving average is $10.02. The company has a market capitalization of $511.74 million, a PE ratio of -6.51 and a beta of 1.43. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.31 and a quick ratio of 0.77.

Wabash National (NYSE:WNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.03. The company had revenue of $417.24 million during the quarter, compared to analysts' expectations of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. On average, research analysts anticipate that Wabash National Corporation will post -2.41 EPS for the current year.

Wabash National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 2nd. Wabash National's payout ratio is currently -16.58%.

About Wabash National

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source