Womack Financial LLC Acquires New Holdings in Wabash National Corporation $WNC

Key Points

• Womack Financial acquired 249,557 Wabash National shares worth approximately $3.37 million, giving it a 0.61% stake. Institutional investors and hedge funds collectively own 97.05% of the company.
• Wabash National reported a quarterly loss of $0.53 per share, slightly better than analysts’ expectations, while revenue of $417.24 million exceeded estimates but declined 9.1% year over year. Analysts expect a full-year loss of $2.41 per share.
• The company declared a quarterly dividend of $0.08 per share, representing a 2.7% yield, while analysts maintain a consensus Hold rating with an average price target of $21.67.

Womack Financial LLC bought a new stake in Wabash National Corporation (NYSE:WNC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 249,557 shares of the company's stock, valued at approximately $3,369,000. Wabash National makes up 2.2% of Womack Financial LLC's holdings, making the stock its 9th largest position. Womack Financial LLC owned 0.61% of Wabash National at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Wabash National during the 2nd quarter worth $47,125,000. Goldman Sachs Group Inc. boosted its stake in shares of Wabash National by 161.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company's stock valued at $9,585,000 after purchasing an additional 684,397 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Wabash National by 305.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company's stock valued at $6,325,000 after purchasing an additional 482,942 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Wabash National during the second quarter worth about $6,151,000. Finally, Millennium Management LLC increased its stake in shares of Wabash National by 864.3% in the first quarter. Millennium Management LLC now owns 459,547 shares of the company's stock valued at $5,078,000 after buying an additional 411,889 shares during the period. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Wabash National Trading Up 0.3%

WNC opened at $12.06 on Tuesday. The stock has a market cap of $491.21 million, a PE ratio of -6.25 and a beta of 1.44. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75. Wabash National Corporation has a twelve month low of $6.63 and a twelve month high of $14.32. The company has a fifty day moving average of $12.66 and a 200-day moving average of $10.25.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share 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 firm had revenue of $417.24 million during the quarter, compared to the consensus estimate of $402.85 million. During the same period last year, the business posted ($0.15) EPS. The business's revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that Wabash National Corporation will post -2.41 EPS for the current year.

Wabash National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National's payout ratio is -16.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DA Davidson reiterated a "buy" rating and set a $20.00 target price on shares of Wabash National in a research report on Monday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wabash National in a research note on Wednesday, August 12th. National Bank Financial set a $20.00 price objective on shares of Wabash National in a research note on Wednesday, August 12th. Wall Street Zen upgraded Wabash National from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Wabash National presently has a consensus rating of "Hold" and a consensus price target of $21.67.

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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