Peregrine Capital Management LLC Cuts Stake in Wabash National Co. (NYSE:WNC)
Peregrine Capital Management LLC trimmed its position in Wabash National Co. (NYSE:WNC) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,534,756 shares of the company’s stock after selling 23,764 shares during the period. Peregrine Capital Management LLC’s holdings in Wabash National were worth $16,299,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Advisor Group Inc. lifted its holdings in Wabash National by 67.6% during the 4th quarter. Advisor Group Inc. now owns 3,395 shares of the company’s stock worth $49,000 after buying an additional 1,369 shares in the last quarter. Verus Capital Partners LLC lifted its stake in shares of Wabash National by 602.0% in the first quarter. Verus Capital Partners LLC now owns 3,510 shares of the company’s stock valued at $25,000 after purchasing an additional 3,010 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in Wabash National during the 1st quarter valued at about $29,000. Advisor Group Holdings Inc. purchased a new stake in shares of Wabash National during the first quarter worth about $30,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wabash National by 92.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,047 shares of the company’s stock valued at $64,000 after purchasing an additional 2,899 shares during the period.
WNC stock traded down $1.08 during midday trading on Friday, reaching $11.39. 1,203,223 shares of the company’s stock traded hands, compared to its average volume of 614,887. The company has a market capitalization of $659.83 million, a P/E ratio of 16.41 and a beta of 2.02. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.17 and a quick ratio of 1.23. Wabash National Co. has a fifty-two week low of $6.26 and a fifty-two week high of $16.68. The business has a 50-day moving average price of $10.59 and a two-hundred day moving average price of $9.99.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.32 dividend on an annualized basis and a yield of 2.81%. Wabash National’s dividend payout ratio (DPR) is 19.75%.
WNC has been the subject of a number of recent analyst reports. Raymond James boosted their target price on shares of Wabash National from $13.00 to $15.00 and gave the company a “strong-buy” rating in a report on Thursday. TheStreet downgraded shares of Wabash National from a “c” rating to a “d+” rating in a report on Thursday, May 14th. ValuEngine upgraded shares of Wabash National from a “sell” rating to a “hold” rating in a report on Friday, April 17th. Finally, Zacks Investment Research restated a “sell” rating on shares of Wabash National in a report on Saturday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.00.
Wabash National Company Profile
Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.
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