HighTower Advisors LLC Buys New Stake in Wabash National Co. (NYSE:WNC)

HighTower Advisors LLC purchased a new stake in Wabash National Co. (NYSE:WNC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 10,118 shares of the company’s stock, valued at approximately $192,000.

Several other hedge funds also recently added to or reduced their stakes in WNC. Kathleen S. Wright Associates Inc. purchased a new position in shares of Wabash National in the third quarter valued at $27,000. Gladius Capital Management LP acquired a new position in shares of Wabash National in the third quarter worth about $29,000. Innealta Capital LLC acquired a new stake in Wabash National during the 2nd quarter valued at approximately $33,000. Point72 Hong Kong Ltd purchased a new stake in Wabash National during the 2nd quarter worth approximately $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Wabash National during the third quarter worth approximately $44,000. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “neutral” rating and set a $18.00 price objective on shares of Wabash National in a report on Monday, September 30th.

Wabash National Price Performance

Shares of WNC opened at $17.12 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.12 and a debt-to-equity ratio of 1.97. The firm has a market cap of $741.93 million, a price-to-earnings ratio of -3.15 and a beta of 1.54. Wabash National Co. has a 52 week low of $15.94 and a 52 week high of $30.07. The stock has a 50 day moving average of $18.71 and a 200-day moving average of $19.59.

Wabash National (NYSE:WNC) last issued its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The business had revenue of $464.00 million for the quarter, compared to analyst estimates of $477.35 million. During the same period last year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was down 26.7% on a year-over-year basis. As a group, analysts forecast that Wabash National Co. will post 1.29 EPS for the current year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, January 9th. Wabash National’s payout ratio is -5.89%.

Wabash National Company 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.