Bank of New York Mellon Corp Sells 167,114 Shares of Wabash National Co. (NYSE:WNC)

Bank of New York Mellon Corp lessened its holdings in shares of Wabash National Co. (NYSE:WNC - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,486 shares of the company's stock after selling 167,114 shares during the period. Bank of New York Mellon Corp owned 0.74% of Wabash National worth $5,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in Wabash National in the fourth quarter worth about $25,688,000. Weiss Asset Management LP purchased a new position in shares of Wabash National in the 3rd quarter worth about $3,457,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Wabash National by 43.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 589,929 shares of the company's stock worth $11,321,000 after purchasing an additional 178,430 shares in the last quarter. Wasatch Advisors LP boosted its stake in Wabash National by 6.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,875,190 shares of the company's stock worth $35,985,000 after purchasing an additional 117,704 shares in the last quarter. Finally, Barclays PLC grew its position in Wabash National by 121.4% during the 3rd quarter. Barclays PLC now owns 163,251 shares of the company's stock valued at $3,132,000 after purchasing an additional 89,522 shares during the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael N. Pettit sold 1,500 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $17.19, for a total transaction of $25,785.00. Following the completion of the sale, the senior vice president now owns 117,227 shares of the company's stock, valued at $2,015,132.13. This represents a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.78% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their target price on shares of Wabash National from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th.

Wabash National Stock Down 0.3 %

Shares of Wabash National stock traded down $0.04 on Thursday, reaching $11.36. The company's stock had a trading volume of 608,569 shares, compared to its average volume of 623,887. The company has a market capitalization of $482.02 million, a price-to-earnings ratio of -1.74 and a beta of 1.64. The company has a quick ratio of 1.09, a current ratio of 1.93 and a debt-to-equity ratio of 2.10. Wabash National Co. has a 52 week low of $10.34 and a 52 week high of $30.07. The firm's fifty day simple moving average is $13.53 and its two-hundred day simple moving average is $16.81.

Wabash National (NYSE:WNC - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Wabash National had a negative net margin of 14.59% and a positive return on equity of 14.72%. During the same quarter in the prior year, the firm posted $1.07 EPS. Equities analysts anticipate that Wabash National Co. will post 0.94 earnings per share for the current year.

Wabash National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.82%. Wabash National's dividend payout ratio is presently -4.91%.

Wabash National 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.