Principal Financial Group Inc. Reduces Holdings in Wabash National Co. (NYSE:WNC)

Principal Financial Group Inc. lowered its stake in Wabash National Co. (NYSE:WNC - Free Report) by 18.3% during the 3rd 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 about 0.48% of Wabash National worth $3,981,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Wabash National by 40.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,015,355 shares of the company's stock worth $22,175,000 after acquiring an additional 290,287 shares during the period. Millennium Management LLC increased its stake in shares of Wabash National by 1,311.6% in the second quarter. Millennium Management LLC now owns 279,900 shares of the company's stock worth $6,113,000 after purchasing an additional 260,072 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Wabash National during the 3rd quarter valued at $3,457,000. American Century Companies Inc. lifted its stake in shares of Wabash National by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 1,095,915 shares of the company's stock valued at $23,935,000 after buying an additional 180,080 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings 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 buying an additional 178,430 shares during the period. 97.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wabash National

In related news, SVP Michael N. Pettit sold 1,500 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $17.19, for a total value of $25,785.00. Following the completion of the transaction, the senior vice president now owns 117,227 shares of the company's stock, valued at approximately $2,015,132.13. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.78% of the stock is currently owned by company insiders.

Wabash National Price Performance

WNC stock traded up $0.12 during midday trading on Friday, hitting $17.12. The company's stock had a trading volume of 286,038 shares, compared to its average volume of 361,569. The firm has a market capitalization of $741.93 million, a price-to-earnings ratio of -3.15 and a beta of 1.54. The company has a quick ratio of 1.12, a current ratio of 1.88 and a debt-to-equity ratio of 1.97. Wabash National Co. has a 12 month low of $15.94 and a 12 month high of $30.07. The company has a 50 day moving average of $18.60 and a two-hundred day moving average of $19.41.

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

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, January 10th. Wabash National's payout ratio is presently -5.89%.

Analyst Upgrades and Downgrades

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

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.