Olstein Capital Management L.P. Reduces Stake in Wabash National Co. (NYSE:WNC)

Olstein Capital Management L.P. lowered its stake in shares of Wabash National Co. (NYSE:WNC) by 20.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,000 shares of the company’s stock after selling 10,000 shares during the period. Olstein Capital Management L.P.’s holdings in Wabash National were worth $1,138,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WNC. Clearbridge Investments LLC grew its position in shares of Wabash National by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 513,784 shares of the company’s stock valued at $13,163,000 after purchasing an additional 407,518 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Wabash National in the third quarter worth about $1,595,000. Millrace Asset Group Inc. bought a new position in shares of Wabash National in the fourth quarter valued at approximately $1,487,000. AQR Capital Management LLC grew its stake in Wabash National by 12.7% during the third quarter. AQR Capital Management LLC now owns 547,322 shares of the company’s stock valued at $11,559,000 after acquiring an additional 61,887 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Wabash National by 99.0% during the 3rd quarter. American Century Companies Inc. now owns 264,288 shares of the company’s stock worth $5,582,000 after acquiring an additional 131,512 shares during the period. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Price Performance

WNC stock traded up $0.08 during mid-day trading on Wednesday, hitting $21.84. 527,615 shares of the stock were exchanged, compared to its average volume of 608,134. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.11. The stock has a market capitalization of $983.30 million, a price-to-earnings ratio of 5.25 and a beta of 1.56. The business has a fifty day moving average price of $22.15 and a 200 day moving average price of $24.94. Wabash National Co. has a 12 month low of $20.09 and a 12 month high of $30.07.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). The company had revenue of $515.28 million during the quarter. Wabash National had a return on equity of 37.84% and a net margin of 8.15%. On average, sell-side analysts anticipate that Wabash National Co. will post 2.17 EPS for the current year.

Wabash National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Wednesday, July 3rd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, July 3rd. Wabash National’s payout ratio is 7.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WNC shares. DA Davidson restated a “neutral” rating and set a $23.00 target price on shares of Wabash National in a research report on Monday, June 24th. StockNews.com downgraded shares of Wabash National from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.

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.