Cornerstone Capital Management Holdings LLC. Lowers Holdings in Wabash National Corporation (WNC)
Cornerstone Capital Management Holdings LLC. lowered its position in shares of Wabash National Corporation (NYSE:WNC) by 39.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 246,843 shares of the company’s stock after selling 160,900 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.42% of Wabash National Corporation worth $5,425,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of WNC. Comerica Bank lifted its position in Wabash National Corporation by 0.8% during the 1st quarter. Comerica Bank now owns 66,631 shares of the company’s stock worth $1,544,000 after acquiring an additional 517 shares during the period. UBS Asset Management Americas Inc. lifted its position in Wabash National Corporation by 1.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 13,397 shares of the company’s stock worth $277,000 after acquiring an additional 200 shares during the period. Karp Capital Management Corp acquired a new stake in Wabash National Corporation during the 1st quarter worth about $735,000. Parametric Portfolio Associates LLC lifted its position in Wabash National Corporation by 24.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 274,997 shares of the company’s stock worth $5,690,000 after acquiring an additional 53,167 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Wabash National Corporation during the 1st quarter worth about $108,000.
A number of analysts have commented on WNC shares. Zacks Investment Research cut Wabash National Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Craig Hallum reiterated a “buy” rating and set a $27.00 price objective on shares of Wabash National Corporation in a research note on Friday, October 6th. ValuEngine lowered Wabash National Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Stifel Nicolaus set a $22.00 price objective on Wabash National Corporation and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, BidaskClub upgraded Wabash National Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.86.
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Wabash National Corporation (NYSE:WNC) opened at 22.21 on Thursday. Wabash National Corporation has a 1-year low of $10.74 and a 1-year high of $24.16. The firm’s 50 day moving average price is $21.37 and its 200-day moving average price is $21.14. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 14.32 and a beta of 1.78.
Wabash National Corporation (NYSE:WNC) last announced its earnings results on Tuesday, July 25th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.05). Wabash National Corporation had a return on equity of 20.76% and a net margin of 5.77%. The business had revenue of $435.90 million for the quarter, compared to analyst estimates of $436.85 million. During the same quarter last year, the company posted $0.55 EPS. Wabash National Corporation’s quarterly revenue was down 7.5% on a year-over-year basis. On average, equities analysts anticipate that Wabash National Corporation will post $1.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, October 4th. This represents a $0.24 annualized dividend and a dividend yield of 1.08%. Wabash National Corporation’s dividend payout ratio (DPR) is 15.48%.
Wabash National Corporation Profile
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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