OppenheimerFunds Inc. decreased its position in shares of Trinity Industries Inc (NYSE:TRN) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,280 shares of the transportation company’s stock after selling 5,398 shares during the period. OppenheimerFunds Inc.’s holdings in Trinity Industries were worth $1,134,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARP Americas LP bought a new position in Trinity Industries during the fourth quarter valued at about $568,000. American International Group Inc. raised its holdings in Trinity Industries by 1.4% during the fourth quarter. American International Group Inc. now owns 314,021 shares of the transportation company’s stock valued at $11,763,000 after buying an additional 4,420 shares in the last quarter. TCW Group Inc. raised its holdings in Trinity Industries by 21.1% during the fourth quarter. TCW Group Inc. now owns 47,430 shares of the transportation company’s stock valued at $1,776,000 after buying an additional 8,264 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Trinity Industries by 13.4% in the fourth quarter. Schroder Investment Management Group now owns 24,860 shares of the transportation company’s stock worth $931,000 after purchasing an additional 2,938 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Trinity Industries by 27.3% in the fourth quarter. Arizona State Retirement System now owns 109,252 shares of the transportation company’s stock worth $4,093,000 after purchasing an additional 23,428 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.
NYSE TRN traded down $1.10 during trading on Friday, reaching $31.65. 2,969,957 shares of the company traded hands, compared to its average volume of 1,418,358. The company has a current ratio of 3.47, a quick ratio of 2.43 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $4,939.44, a price-to-earnings ratio of 20.82, a PEG ratio of 2.49 and a beta of 2.00. Trinity Industries Inc has a 1-year low of $25.05 and a 1-year high of $38.25.
Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Wednesday, February 21st. The transportation company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $906.00 million for the quarter, compared to the consensus estimate of $1.05 billion. Trinity Industries had a return on equity of 5.34% and a net margin of 19.15%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. analysts predict that Trinity Industries Inc will post 1.32 earnings per share for the current year.
Trinity Industries declared that its board has authorized a stock repurchase program on Tuesday, December 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, April 12th. Trinity Industries’s payout ratio is currently 34.21%.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, bought 447,505 shares of Trinity Industries stock in a transaction dated Thursday, March 22nd. The shares were acquired at an average cost of $32.63 per share, with a total value of $14,602,088.15. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Holdings L.P. Valueact bought 350,000 shares of Trinity Industries stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $32.85 per share, for a total transaction of $11,497,500.00. The disclosure for this purchase can be found here. Insiders bought a total of 2,624,387 shares of company stock worth $86,077,631 over the last three months. 2.00% of the stock is owned by company insiders.
A number of research firms have recently commented on TRN. Stifel Nicolaus set a $40.00 price objective on Trinity Industries and gave the stock a “buy” rating in a research note on Friday, February 9th. Vertical Group began coverage on Trinity Industries in a research note on Tuesday, March 6th. They issued a “sell” rating and a $20.00 price objective on the stock. Vertical Research began coverage on Trinity Industries in a research note on Tuesday, March 6th. They issued a “sell” rating and a $20.00 price objective on the stock. Wells Fargo upgraded Trinity Industries from a “market perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research note on Friday, February 16th. Finally, Zacks Investment Research raised Trinity Industries from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Saturday, February 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.75.
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About Trinity Industries
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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