Wabash National (NYSE:WNC) Shares Gap Down on Disappointing Earnings

Wabash National Co. (NYSE:WNC) shares gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.64, but opened at $15.24. Wabash National shares last traded at $16.09, with a volume of 210,287 shares trading hands.

The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. During the same quarter in the previous year, the company earned $1.07 EPS.

Wabash National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.08 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.32 annualized dividend and a yield of 1.99%. Wabash National’s payout ratio is -5.89%.

Insider Activity

In other news, SVP Michael N. Pettit sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $17.19, for a total value of $25,785.00. Following the transaction, the senior vice president now directly owns 117,227 shares in the company, valued at approximately $2,015,132.13. This represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.78% of the company’s stock.

Institutional Trading of Wabash National

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Wabash National by 121.4% in the third quarter. Barclays PLC now owns 163,251 shares of the company’s stock valued at $3,132,000 after purchasing an additional 89,522 shares during the period. Jane Street Group LLC boosted its position in Wabash National by 46.8% in the 3rd quarter. Jane Street Group LLC now owns 160,946 shares of the company’s stock valued at $3,089,000 after buying an additional 51,274 shares during the period. HighTower Advisors LLC acquired a new position in shares of Wabash National in the third quarter worth $192,000. BNP Paribas Financial Markets increased its position in shares of Wabash National by 75.9% during the third quarter. BNP Paribas Financial Markets now owns 84,590 shares of the company’s stock worth $1,623,000 after acquiring an additional 36,490 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Wabash National by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 856,438 shares of the company’s stock valued at $16,435,000 after acquiring an additional 46,451 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Stock Performance

The stock has a fifty day moving average of $17.76 and a 200-day moving average of $18.77. The company has a quick ratio of 1.12, a current ratio of 1.88 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $696.00 million, a PE ratio of -2.95 and a beta of 1.57.

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.