Wabash National Co. (NYSE:WNC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Wabash National Co. (NYSE:WNC - Free Report) by 18.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,433 shares of the company's stock after selling 46,557 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Wabash National worth $3,981,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WNC. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Wabash National in the 3rd quarter valued at $27,000. Innealta Capital LLC purchased a new position in shares of Wabash National during the second quarter worth about $33,000. Point72 Hong Kong Ltd acquired a new stake in shares of Wabash National during the second quarter worth about $34,000. CWM LLC boosted its position in shares of Wabash National by 353.5% in the 2nd quarter. CWM LLC now owns 2,272 shares of the company's stock valued at $50,000 after purchasing an additional 1,771 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Wabash National during the 2nd quarter worth approximately $66,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed a "neutral" rating and set a $18.00 price objective on shares of Wabash National in a research note on Monday, September 30th.

Wabash National Price Performance

WNC stock traded up $0.41 on Friday, reaching $19.32. The company had a trading volume of 362,609 shares, compared to its average volume of 584,385. The company's fifty day moving average is $18.64 and its 200 day moving average is $20.17. The company has a market cap of $837.11 million, a P/E ratio of -3.48 and a beta of 1.54. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.12 and a current ratio of 1.88. Wabash National Co. has a 1 year low of $15.94 and a 1 year high of $30.07.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The company had revenue of $464.00 million for the quarter, compared to analyst estimates of $477.35 million. During the same period last year, the company posted $1.16 EPS. The business's revenue for the quarter was down 26.7% on a year-over-year basis. On average, research analysts forecast that Wabash National Co. will post 1.29 earnings per share for the current year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 9th will be issued a $0.08 dividend. The ex-dividend date is Thursday, January 9th. This represents a $0.32 annualized dividend and a yield of 1.66%. Wabash National's dividend payout ratio is currently -5.89%.

About Wabash National

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.