Federated Hermes Inc. Invests $5.87 Million in Wabash National Corporation (NYSE:WNC)

Federated Hermes Inc. acquired a new stake in Wabash National Corporation (NYSE:WNC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 531,619 shares of the company's stock, valued at approximately $5,874,000. Federated Hermes Inc. owned about 1.27% of Wabash National as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in WNC. Parallel Advisors LLC increased its position in shares of Wabash National by 255.9% during the first quarter. Parallel Advisors LLC now owns 2,395 shares of the company's stock worth $26,000 after acquiring an additional 1,722 shares in the last quarter. Allworth Financial LP boosted its position in shares of Wabash National by 268.8% during the first quarter. Allworth Financial LP now owns 3,220 shares of the company's stock worth $34,000 after buying an additional 2,347 shares during the period. Curat Global LLC acquired a new stake in Wabash National in the 1st quarter valued at approximately $37,000. CWM LLC boosted its position in Wabash National by 1,520.7% during the 1st quarter. CWM LLC now owns 5,235 shares of the company's stock worth $58,000 after acquiring an additional 4,912 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake 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 worth $85,000 after acquiring an additional 6,973 shares in the last quarter. 97.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson raised their price target 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 Performance

WNC traded up $0.03 during trading on Thursday, hitting $10.20. The stock had a trading volume of 165,300 shares, compared to its average volume of 1,006,672. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.68 and a quick ratio of 1.00. The company has a 50 day moving average price of $10.24 and a 200-day moving average price of $10.89. Wabash National Corporation has a one year low of $6.78 and a one year high of $20.63. The firm has a market cap of $417.55 million, a price-to-earnings ratio of -4.21 and a beta of 1.65.

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

Wabash National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.32 annualized dividend and a yield of 3.1%. Wabash National's payout ratio is currently -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.