Los Angeles Capital Management LLC Takes Position in Wabash National Co. (NYSE:WNC)

Posted by Defense World Staff on Aug 6th, 2023

Los Angeles Capital Management LLC purchased a new stake in Wabash National Co. (NYSE:WNC – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 35,387 shares of the company’s stock, valued at approximately $870,000. Los Angeles Capital Management LLC owned 0.07% of Wabash National at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Wabash National by 0.8% in the third quarter. Vanguard Group Inc. now owns 6,474,779 shares of the company’s stock valued at $100,748,000 after buying an additional 50,493 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wabash National by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,427,583 shares of the company’s stock valued at $77,464,000 after buying an additional 110,277 shares during the period. State Street Corp boosted its stake in shares of Wabash National by 2.4% in the first quarter. State Street Corp now owns 1,770,585 shares of the company’s stock valued at $26,275,000 after buying an additional 40,901 shares during the period. Millennium Management LLC boosted its stake in shares of Wabash National by 144.4% in the fourth quarter. Millennium Management LLC now owns 1,206,262 shares of the company’s stock valued at $27,262,000 after buying an additional 712,620 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Wabash National by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 958,017 shares of the company’s stock valued at $14,217,000 after buying an additional 33,179 shares during the period. 97.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Raymond James cut Wabash National from a “strong-buy” rating to a “market perform” rating in a research note on Wednesday, July 5th. StockNews.com cut Wabash National from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th.

Wabash National Stock Up 0.5 %

NYSE WNC opened at $24.00 on Friday. The business has a fifty day moving average price of $25.07 and a two-hundred day moving average price of $25.13. The stock has a market capitalization of $1.13 billion, a PE ratio of 5.78 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.68 and a quick ratio of 0.89. Wabash National Co. has a fifty-two week low of $14.90 and a fifty-two week high of $30.10.

Wabash National (NYSE:WNC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.22. The company had revenue of $686.60 million during the quarter, compared to the consensus estimate of $739.98 million. Wabash National had a net margin of 7.75% and a return on equity of 48.85%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. Equities analysts expect that Wabash National Co. will post 4.51 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 6th were issued a $0.08 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $0.32 dividend on an annualized basis and a yield of 1.33%. Wabash National’s payout ratio is 7.71%.

Wabash National Profile

(Free Report)

Wabash National Corporation designs, manufactures, and distributes 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 provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; insulated van bodies; stake bodies; platform truck bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.