Wabash National Corporation (WNC) To Go Ex-Dividend on October 8th

Wabash National Corporation (NYSE:WNC) announced a quarterly dividend on Wednesday, August 19th. Stockholders of record on Thursday, October 8th will be given a dividend of 0.08 per share on Thursday, October 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, October 8th.

Wabash National has raised its dividend by an average of 0.1%per year over the last three years. Wabash National has a dividend payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Wabash National to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 26.7%.

Wabash National Stock Down 3.9%

Shares of NYSE:WNC opened at $11.68 on Friday. Wabash National has a 52-week low of $6.63 and a 52-week high of $14.32. The firm has a fifty day moving average of $12.56 and a 200 day moving average of $10.23. The firm has a market capitalization of $475.84 million, a PE ratio of -6.05 and a beta of 1.44. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

Wabash National (NYSE:WNC) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The business had revenue of $417.24 million for the quarter, compared to the consensus estimate of $402.85 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, research analysts anticipate that Wabash National will post -2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Wabash National

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Wabash National in the 2nd quarter worth $47,125,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Wabash National during the second quarter valued at approximately $9,812,434,000. Goldman Sachs Group Inc. raised its stake in shares of Wabash National by 161.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock worth $9,585,000 after purchasing an additional 684,397 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Wabash National by 305.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company’s stock worth $6,325,000 after buying an additional 482,942 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Wabash National during the second quarter valued at approximately $6,151,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Company Profile

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.