Millennium Management LLC Trims Position in Wabash National Co. (NYSE:WNC)

Millennium Management LLC decreased its position in Wabash National Co. (NYSE:WNC - Free Report) by 81.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,658 shares of the company's stock after selling 204,915 shares during the quarter. Millennium Management LLC owned approximately 0.11% of Wabash National worth $816,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Wabash National by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 210,137 shares of the company's stock valued at $3,600,000 after acquiring an additional 2,704 shares during the period. BNP Paribas Financial Markets lifted its holdings in Wabash National by 4.5% in the fourth quarter. BNP Paribas Financial Markets now owns 88,422 shares of the company's stock valued at $1,515,000 after acquiring an additional 3,832 shares during the period. Pacific Ridge Capital Partners LLC lifted its holdings in Wabash National by 9.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 58,710 shares of the company's stock valued at $1,006,000 after acquiring an additional 5,064 shares during the period. Wells Fargo & Company MN lifted its holdings in Wabash National by 22.5% in the fourth quarter. Wells Fargo & Company MN now owns 27,839 shares of the company's stock valued at $477,000 after acquiring an additional 5,112 shares during the period. Finally, LPL Financial LLC lifted its holdings in Wabash National by 26.6% in the fourth quarter. LPL Financial LLC now owns 24,688 shares of the company's stock valued at $423,000 after acquiring an additional 5,191 shares during the period. Institutional investors own 97.05% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson decreased their price objective on Wabash National from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th.

Wabash National Stock Up 5.0%

Shares of WNC opened at $9.40 on Friday. The business's 50 day moving average is $9.39 and its 200 day moving average is $13.22. The company has a market capitalization of $393.37 million, a PE ratio of -1.44 and a beta of 1.61. Wabash National Co. has a 12-month low of $6.78 and a 12-month high of $24.03. The company has a current ratio of 1.93, a quick ratio of 1.09 and a debt-to-equity ratio of 2.10.

Wabash National (NYSE:WNC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.32). The business had revenue of $380.89 million for the quarter, compared to the consensus estimate of $414.55 million. Wabash National had a negative net margin of 14.59% and a positive return on equity of 14.72%. The firm's revenue for the quarter was down 26.1% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. Research analysts expect that Wabash National Co. will post 0.94 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The company also recently declared 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. This represents a $0.32 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Wabash National's dividend payout ratio is presently -20.65%.

About Wabash National

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.