Geode Capital Management LLC Cuts Stock Position in Wabash National Co. (NYSE:WNC)

Geode Capital Management LLC decreased its holdings in Wabash National Co. (NYSE:WNC) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,011,208 shares of the company’s stock after selling 11,313 shares during the quarter. Geode Capital Management LLC’s holdings in Wabash National were worth $19,409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WNC. Kathleen S. Wright Associates Inc. acquired a new position in shares of Wabash National during the third quarter worth $27,000. Gladius Capital Management LP purchased a new stake in Wabash National during the 3rd quarter worth about $29,000. Innealta Capital LLC acquired a new position in shares of Wabash National during the 2nd quarter worth about $33,000. Point72 Hong Kong Ltd acquired a new position in shares of Wabash National during the 2nd quarter worth about $34,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Wabash National in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “neutral” rating and issued a $18.00 price target on shares of Wabash National in a research note on Monday, September 30th.

Wabash National Stock Down 1.2 %

Shares of NYSE WNC opened at $17.31 on Friday. The stock has a market cap of $750.16 million, a PE ratio of -3.19 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 business has a 50-day moving average price of $18.63 and a 200 day moving average price of $19.53. The company has a quick ratio of 1.12, a current ratio of 1.88 and a debt-to-equity ratio of 1.97.

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

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, January 9th. Wabash National’s payout ratio is -5.89%.

Wabash National 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.