Wabash National Co. (NYSE:WNC) Declares $0.08 Quarterly Dividend

Wabash National Co. (NYSE:WNCGet Free Report) announced a quarterly dividend on Thursday, February 15th, Wall Street Journal reports. Stockholders of record on Thursday, April 4th will be given a dividend of 0.08 per share on Thursday, April 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, April 3rd.

Wabash National has a dividend payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wabash National to earn $2.80 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 11.4%.

Wabash National Price Performance

Wabash National stock opened at $28.96 on Tuesday. Wabash National has a 52-week low of $20.09 and a 52-week high of $30.07. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 6.02 and a beta of 1.58. The company has a fifty day simple moving average of $27.03 and a 200-day simple moving average of $24.32. The company has a quick ratio of 1.17, a current ratio of 1.93 and a debt-to-equity ratio of 0.72.

Wabash National (NYSE:WNCGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.18. Wabash National had a net margin of 9.12% and a return on equity of 46.87%. The firm had revenue of $596.10 million during the quarter, compared to analyst estimates of $633.68 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Wabash National’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts anticipate that Wabash National will post 2.19 EPS for the current fiscal year.

Insider Buying and Selling at Wabash National

In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now owns 6,386 shares of the company’s stock, valued at $172,805.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now owns 6,386 shares of the company’s stock, valued at $172,805.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larry J. Magee sold 3,086 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total transaction of $81,779.00. Following the completion of the transaction, the director now directly owns 114,146 shares in the company, valued at approximately $3,024,869. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Wabash National

Several hedge funds have recently made changes to their positions in WNC. Raymond James & Associates lifted its position in shares of Wabash National by 4.2% during the first quarter. Raymond James & Associates now owns 39,348 shares of the company’s stock worth $584,000 after purchasing an additional 1,595 shares in the last quarter. Citigroup Inc. increased its stake in shares of Wabash National by 6.3% during the first quarter. Citigroup Inc. now owns 44,274 shares of the company’s stock worth $657,000 after buying an additional 2,628 shares during the period. MetLife Investment Management LLC increased its stake in shares of Wabash National by 55.4% during the first quarter. MetLife Investment Management LLC now owns 26,736 shares of the company’s stock worth $397,000 after buying an additional 9,533 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Wabash National by 12.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,203 shares of the company’s stock worth $626,000 after buying an additional 4,808 shares during the period. Finally, APG Asset Management N.V. purchased a new stake in shares of Wabash National during the first quarter worth approximately $403,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Wabash National from a “hold” rating to a “buy” rating in a report on Tuesday.

Get Our Latest Analysis on Wabash National

About Wabash National

(Get Free Report)

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.

Further Reading

Dividend History for Wabash National (NYSE:WNC)

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