Kendall Capital Management Cuts Stock Holdings in Wabash National Co. (NYSE:WNC)

Kendall Capital Management decreased its holdings in shares of Wabash National Co. (NYSE:WNC) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,155 shares of the company’s stock after selling 7,715 shares during the quarter. Kendall Capital Management’s holdings in Wabash National were worth $362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in shares of Wabash National during the third quarter worth about $29,000. Meeder Asset Management Inc. purchased a new position in shares of Wabash National during the third quarter worth about $44,000. EMC Capital Management grew its holdings in shares of Wabash National by 88.1% during the fourth quarter. EMC Capital Management now owns 8,250 shares of the company’s stock worth $141,000 after purchasing an additional 3,864 shares in the last quarter. HighTower Advisors LLC bought a new stake in Wabash National in the 3rd quarter worth approximately $192,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Wabash National in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Stock Performance

NYSE:WNC opened at $12.42 on Monday. The business has a 50 day moving average of $14.46 and a 200 day moving average of $17.24. The company has a market capitalization of $527.06 million, a price-to-earnings ratio of -1.90 and a beta of 1.64. Wabash National Co. has a 1-year low of $10.34 and a 1-year high of $30.07. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.93 and a quick ratio of 1.09.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, January 29th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Wabash National had a positive return on equity of 14.72% and a negative net margin of 14.59%. During the same period in the prior year, the company posted $1.07 earnings per share. On average, sell-side analysts predict that Wabash National Co. will post 0.94 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be given a $0.08 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.32 annualized dividend and a yield of 2.58%. Wabash National’s payout ratio is currently -4.91%.

Insider Buying and Selling at Wabash National

In other Wabash National news, SVP Michael N. Pettit sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $17.19, for a total value of $25,785.00. Following the completion of the sale, the senior vice president now owns 117,227 shares in the company, valued at approximately $2,015,132.13. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.78% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their target price on Wabash National from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, February 24th.

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.