Wabash National Corporation (NYSE:WNC) to Issue Quarterly Dividend of $0.08

Wabash National Corporation (NYSE:WNC) announced a quarterly dividend on Wednesday, August 19th. Stockholders of record on Thursday, October 8th will be given a dividend of 0.08 per share on Thursday, October 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 8th.

Wabash National has raised its dividend payment by an average of 0.1%annually over the last three years. Wabash National has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Wabash National to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 26.7%.

Wabash National Price Performance

WNC opened at $12.17 on Thursday. Wabash National has a fifty-two week low of $6.63 and a fifty-two week high of $14.32. The firm has a 50-day moving average of $12.50 and a 200 day moving average of $10.22. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $495.97 million, a P/E ratio of -6.31 and a beta of 1.44.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. The company had revenue of $417.24 million during the quarter, compared to analyst estimates of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. Wabash National’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) EPS. On average, research analysts expect that Wabash National will post -2.41 EPS for the current year.

Institutional Investors Weigh In On Wabash National

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Wabash National in the 2nd quarter valued at about $47,125,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Wabash National during the second quarter worth about $9,812,434,000. Goldman Sachs Group Inc. increased its position in shares of Wabash National by 161.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock worth $9,585,000 after purchasing an additional 684,397 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Wabash National by 305.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company’s stock valued at $6,325,000 after purchasing an additional 482,942 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Wabash National in the second quarter valued at approximately $6,151,000. Institutional investors own 97.05% of the company’s stock.

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.