Steward Partners Investment Advisory LLC bought a new stake in Trinity Industries, Inc. (NYSE:TRN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,448 shares of the transportation company’s stock, valued at approximately $524,000.
Several other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. increased its stake in Trinity Industries by 10.9% in the 2nd quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock valued at $163,000 after buying an additional 570 shares during the period. Sippican Capital Advisors acquired a new position in Trinity Industries in the 3rd quarter valued at $211,000. Griffin Asset Management Inc. acquired a new position in Trinity Industries in the 3rd quarter valued at $213,000. Pacad Investment Ltd. increased its stake in Trinity Industries by 36.5% in the 2nd quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock valued at $199,000 after buying an additional 1,900 shares during the period. Finally, Dearborn Partners LLC acquired a new position in Trinity Industries in the 2nd quarter valued at $209,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.
In other Trinity Industries news, major shareholder Holdings L.P. Valueact acquired 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $9,435,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Valueact Capital Master Fund, acquired 832,600 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average price of $31.68 per share, for a total transaction of $26,376,768.00. The disclosure for this purchase can be found here. Insiders purchased a total of 1,722,237 shares of company stock worth $55,164,869 over the last quarter. Insiders own 2.00% of the company’s stock.
Trinity Industries, Inc. (NYSE TRN) opened at $36.71 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.62 and a current ratio of 3.70. Trinity Industries, Inc. has a 12 month low of $25.01 and a 12 month high of $38.25. The firm has a market cap of $5,571.99, a price-to-earnings ratio of 24.47, a PEG ratio of 2.46 and a beta of 2.26.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.11. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The business had revenue of $973.60 million for the quarter, compared to analysts’ expectations of $951.60 million. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. research analysts predict that Trinity Industries, Inc. will post 1.49 earnings per share for the current year.
Trinity Industries announced that its board has approved a stock repurchase program on Tuesday, December 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.42%. Trinity Industries’s dividend payout ratio is presently 34.67%.
Several brokerages have issued reports on TRN. Cowen boosted their price objective on shares of Trinity Industries from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, December 13th. Susquehanna Bancshares raised shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. UBS raised shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. Stifel Nicolaus dropped their price objective on shares of Trinity Industries from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Finally, Zacks Investment Research cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Trinity Industries presently has a consensus rating of “Buy” and a consensus price target of $35.00.
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Trinity Industries Company Profile
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation and construction sectors. The Company’s products and services include railcars and railcar parts; parts and steel components; the leasing, management and maintenance of railcars; highway products; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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