RWWM Inc. Cuts Stake in Wabash National Corporation $WNC

RWWM Inc. lowered its holdings in shares of Wabash National Corporation (NYSE:WNC) by 34.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 204,481 shares of the company’s stock after selling 109,806 shares during the period. Wabash National comprises about 0.1% of RWWM Inc.’s investment portfolio, making the stock its 18th biggest position. RWWM Inc. owned 0.50% of Wabash National worth $2,018,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Wabash National by 93.9% in the first quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock worth $339,000 after buying an additional 14,912 shares during the period. AQR Capital Management LLC grew its position in Wabash National by 59.1% during the 1st quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock worth $2,483,000 after acquiring an additional 83,473 shares during the last quarter. Millennium Management LLC increased its stake in Wabash National by 864.3% in the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after purchasing an additional 411,889 shares during the period. Caxton Associates LLP bought a new stake in Wabash National in the first quarter valued at approximately $166,000. Finally, Empowered Funds LLC boosted its stake in shares of Wabash National by 4.2% during the first quarter. Empowered Funds LLC now owns 202,429 shares of the company’s stock valued at $2,237,000 after purchasing an additional 8,205 shares during the period. 97.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research raised shares of Wabash National from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Wabash National from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. National Bankshares set a $9.00 price objective on shares of Wabash National in a research note on Thursday, October 23rd. Weiss Ratings cut Wabash National from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, DA Davidson reaffirmed a “neutral” rating and set a $9.00 price target on shares of Wabash National in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Wabash National currently has an average rating of “Reduce” and a consensus price target of $9.00.

Wabash National Stock Up 2.1%

Shares of NYSE:WNC opened at $10.15 on Friday. The firm has a market capitalization of $411.28 million, a P/E ratio of 1.67 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.86 and a current ratio of 1.35. The stock has a 50 day moving average price of $9.49 and a 200-day moving average price of $9.66. Wabash National Corporation has a 52-week low of $6.78 and a 52-week high of $16.28.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.30). The firm had revenue of $381.60 million during the quarter, compared to analysts’ expectations of $390.62 million. Wabash National had a negative return on equity of 15.21% and a net margin of 15.89%.Wabash National’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, equities research analysts anticipate that Wabash National Corporation will post 0.94 EPS for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Thursday, January 8th were given 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, January 8th. Wabash National’s dividend payout ratio (DPR) is 5.26%.

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.