Bank of New York Mellon Corp Has $22.70 Million Holdings in Wabash National Corporation (WNC)
Bank of New York Mellon Corp reduced its position in shares of Wabash National Corporation (NYSE:WNC) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,032,593 shares of the company’s stock after selling 94,241 shares during the period. Bank of New York Mellon Corp owned 1.75% of Wabash National Corporation worth $22,697,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Wabash National Corporation in the first quarter valued at approximately $108,000. Meeder Asset Management Inc. raised its holdings in Wabash National Corporation by 390.1% in the second quarter. Meeder Asset Management Inc. now owns 7,450 shares of the company’s stock valued at $163,000 after buying an additional 5,930 shares during the period. Ronna Sue Cohen purchased a new position in Wabash National Corporation in the second quarter valued at approximately $203,000. US Bancorp DE raised its holdings in Wabash National Corporation by 246.9% in the second quarter. US Bancorp DE now owns 9,757 shares of the company’s stock valued at $215,000 after buying an additional 6,944 shares during the period. Finally, Trexquant Investment LP purchased a new position in Wabash National Corporation in the second quarter valued at approximately $235,000.
Shares of Wabash National Corporation (NYSE:WNC) opened at 20.86 on Friday. Wabash National Corporation has a 52-week low of $10.74 and a 52-week high of $24.16. The stock’s 50 day moving average is $20.21 and its 200-day moving average is $20.99. The firm has a market cap of $1.23 billion, a P/E ratio of 13.45 and a beta of 1.78.
Wabash National Corporation (NYSE:WNC) last issued its earnings results on Tuesday, July 25th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.05). Wabash National Corporation had a net margin of 5.77% and a return on equity of 20.76%. The company had revenue of $435.90 million during the quarter, compared to analyst estimates of $436.85 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s quarterly revenue was down 7.5% on a year-over-year basis. Equities analysts anticipate that Wabash National Corporation will post $1.46 earnings per share for the current fiscal year.
Several research analysts recently commented on the stock. BMO Capital Markets restated a “hold” rating and issued a $20.00 price target on shares of Wabash National Corporation in a report on Friday, July 7th. BidaskClub upgraded shares of Wabash National Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Craig Hallum upgraded shares of Wabash National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Wabash National Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Stifel Nicolaus set a $22.00 price target on shares of Wabash National Corporation and gave the company a “hold” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $20.57.
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About Wabash National Corporation
Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.
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