KLP Kapitalforvaltning AS Has $92,000 Stake in Wabash National Corporation (NYSE:WNC)

Key Points

• KLP Kapitalforvaltning AS significantly reduced its stake in Wabash National Corporation by 78.8%, owning 8,300 shares worth approximately $92,000 after selling 30,800 shares.
• Wabash National's stock price declined by 3.9% to $9.57, with a twelve-month range between $6.78 and $20.63 and a market capitalization of $391.78 million.
• The company announced a quarterly dividend of $0.08 per share, which shows a negative payout ratio of -13.22% and an annualized yield of 3.3%.

KLP Kapitalforvaltning AS reduced its stake in Wabash National Corporation (NYSE:WNC - Free Report) by 78.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,300 shares of the company's stock after selling 30,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Wabash National were worth $92,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC grew its stake in Wabash National by 255.9% in the first quarter. Parallel Advisors LLC now owns 2,395 shares of the company's stock valued at $26,000 after acquiring an additional 1,722 shares during the period. Allworth Financial LP lifted its holdings in shares of Wabash National by 268.8% in the first quarter. Allworth Financial LP now owns 3,220 shares of the company's stock valued at $34,000 after purchasing an additional 2,347 shares in the last quarter. Curat Global LLC bought a new stake in shares of Wabash National in the first quarter valued at about $37,000. CWM LLC lifted its holdings in shares of Wabash National by 1,520.7% in the first quarter. CWM LLC now owns 5,235 shares of the company's stock valued at $58,000 after purchasing an additional 4,912 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Wabash National by 982.1% in the first 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. 97.05% of the stock is currently owned by institutional investors.

Wabash National Stock Up 1.5%

WNC traded up $0.14 on Monday, hitting $9.70. 100,392 shares of the company were exchanged, compared to its average volume of 1,016,261. Wabash National Corporation has a 12 month low of $6.78 and a 12 month high of $20.63. The company has a market cap of $397.12 million, a PE ratio of -4.01 and a beta of 1.65. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.00 and a current ratio of 1.68. The stock's fifty day moving average is $10.17 and its 200-day moving average is $10.95.

Wabash National (NYSE:WNC - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.16. The firm had revenue of $458.82 million for the quarter, compared to the consensus estimate 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 revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. Equities research analysts predict that Wabash National Corporation will post 0.94 EPS for the current fiscal year.

Wabash National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 3rd were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.32 annualized dividend and a dividend yield of 3.3%. Wabash National's dividend payout ratio is presently -13.22%.

Analysts Set New Price Targets

Separately, DA Davidson upped their target price on Wabash National from $7.50 to $9.50 and gave the stock 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.