Empowered Funds LLC Takes Position in Wabash National Corporation $WNC

Key Points

• Empowered Funds LLC acquired 148,079 shares of Wabash National worth approximately $2.0 million, giving it a 0.36% stake. Institutional investors collectively own 97.05% of the company.
• Wabash National reported quarterly revenue of $417.24 million and an adjusted loss of $0.53 per share, narrowly beating estimates, though revenue declined 9.1% year over year and profitability remained negative.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $21.67. The company also declared a quarterly dividend of $0.08 per share, equating to a 2.2% yield.

Empowered Funds LLC acquired a new stake in shares of Wabash National Corporation (NYSE:WNC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 148,079 shares of the company's stock, valued at approximately $1,999,000. Empowered Funds LLC owned 0.36% of Wabash National at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Wabash National in the second quarter worth approximately $47,125,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Wabash National during the 2nd quarter valued at $9,812,434. Goldman Sachs Group Inc. raised its stake in shares of Wabash National by 161.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company's stock worth $9,585,000 after buying an additional 684,397 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Wabash National by 305.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company's stock worth $6,325,000 after buying an additional 482,942 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Wabash National in the second quarter valued at $6,151,000. Institutional investors own 97.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. National Bank Financial set a $20.00 target price on Wabash National in a research note on Wednesday, August 12th. DA Davidson reiterated a "buy" rating and issued a $20.00 price target on shares of Wabash National in a research report on Monday, August 24th. Wall Street Zen raised shares of Wabash National from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Citizens Jmp assumed coverage on shares of Wabash National in a research report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 price objective 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.67.

Wabash National Stock Performance

WNC opened at $14.29 on Friday. The firm has a market cap of $582.17 million, a PE ratio of -7.40 and a beta of 1.45. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75. The business has a fifty day simple moving average of $12.89 and a 200-day simple moving average of $10.35. Wabash National Corporation has a fifty-two week low of $6.63 and a fifty-two week high of $14.45.

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

Wabash National Dividend Announcement

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

Wabash National Company 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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