LSV Asset Management Sells 73,508 Shares of Wabash National Corporation (NYSE:WNC)

Key Points

• LSV Asset Management reduced its stake in Wabash National Corporation by 6.5%, selling 73,508 shares to hold approximately 1,053,003 shares worth $11.6 million.
• Wabash National reported a quarterly loss of ($0.15) EPS, outperforming analysts' expectations, but experienced a 16.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.08 per share, resulting in an annualized yield of 3.2% despite a negative dividend payout ratio.

LSV Asset Management decreased its position in shares of Wabash National Corporation (NYSE:WNC - Free Report) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,053,003 shares of the company's stock after selling 73,508 shares during the period. LSV Asset Management owned about 2.51% of Wabash National worth $11,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in Wabash National by 22.5% during the fourth quarter. First Trust Advisors LP now owns 1,468,605 shares of the company's stock worth $25,157,000 after purchasing an additional 269,846 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Wabash National by 10.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,059,674 shares of the company's stock worth $18,152,000 after buying an additional 99,360 shares during the last quarter. Royce & Associates LP boosted its stake in Wabash National by 2.3% in the first quarter. Royce & Associates LP now owns 985,877 shares of the company's stock valued at $10,894,000 after buying an additional 22,510 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Wabash National by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 930,386 shares of the company's stock valued at $15,938,000 after acquiring an additional 49,771 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in Wabash National by 1.8% during the first quarter. Peregrine Capital Management LLC now owns 673,193 shares of the company's stock worth $7,439,000 after acquiring an additional 11,934 shares in the last quarter. 97.05% of the stock is owned by institutional investors.

Wabash National Price Performance

Shares of NYSE WNC traded down $0.09 during midday trading on Friday, reaching $10.07. 163,396 shares of the company were exchanged, compared to its average volume of 1,002,501. The stock's 50-day moving average price is $10.27 and its 200-day moving average price is $10.85. The stock has a market cap of $412.04 million, a P/E ratio of -4.16 and a beta of 1.65. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 1.13. Wabash National Corporation has a one year low of $6.78 and a one year high of $20.63.

Wabash National (NYSE:WNC - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.16. Wabash National had a negative return on equity of 7.91% and a negative net margin of 6.38%. The business had revenue of $458.82 million during the quarter, compared to analysts' expectations of $435.75 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business's revenue for the quarter was down 16.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Wabash National Corporation will post 0.94 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 3rd. Wabash National's payout ratio is presently -13.22%.

Analyst Ratings Changes

Separately, DA Davidson raised their price target on shares of Wabash National from $7.50 to $9.50 and gave the company a "neutral" rating in a research note on Monday, June 23rd.

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.