Empowered Funds LLC Grows Stake in Wabash National Co. (NYSE:WNC)

Empowered Funds LLC raised its position in Wabash National Co. (NYSE:WNC) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 285,261 shares of the company’s stock after buying an additional 41,852 shares during the period. Empowered Funds LLC owned about 0.66% of Wabash National worth $5,474,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Wabash National in the third quarter worth approximately $27,000. Innealta Capital LLC acquired a new stake in shares of Wabash National in the second quarter valued at approximately $33,000. Point72 Hong Kong Ltd purchased a new position in Wabash National during the second quarter worth approximately $34,000. CWM LLC boosted its stake in Wabash National by 353.5% during the second quarter. CWM LLC now owns 2,272 shares of the company’s stock worth $50,000 after buying an additional 1,771 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Wabash National in the 2nd quarter valued at $66,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wabash National Stock Performance

Wabash National stock opened at $19.16 on Monday. The firm has a 50 day simple moving average of $18.64 and a 200-day simple moving average of $20.27. The stock has a market cap of $830.39 million, a price-to-earnings ratio of -3.53 and a beta of 1.54. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.88 and a quick ratio of 1.12. Wabash National Co. has a 1-year low of $15.94 and a 1-year high of $30.07.

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

Wall Street Analyst Weigh In

Separately, DA Davidson reiterated a “neutral” rating and set a $18.00 price target on shares of Wabash National in a report on Monday, September 30th.

Wabash National Company 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.