Atlantic Trust Group LLC bought a new position in shares of Trinity Industries, Inc. (NYSE:TRN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,044 shares of the transportation company’s stock, valued at approximately $618,000.
Several other hedge funds and other institutional investors have also modified their holdings of TRN. First Mercantile Trust Co. raised its position in shares of Trinity Industries by 10.9% during the 2nd quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock worth $163,000 after acquiring an additional 570 shares in the last quarter. Invictus RG increased its position in Trinity Industries by 466.4% during the first quarter. Invictus RG now owns 6,406 shares of the transportation company’s stock worth $170,000 after buying an additional 5,275 shares during the period. Pacad Investment Ltd. increased its position in Trinity Industries by 36.5% during the second quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock worth $199,000 after buying an additional 1,900 shares during the period. Fisher Asset Management LLC acquired a new position in Trinity Industries during the second quarter worth approximately $205,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Trinity Industries during the second quarter worth approximately $208,000. 80.92% of the stock is currently owned by institutional investors and hedge funds.
Trinity Industries, Inc. (NYSE:TRN) opened at 29.67 on Wednesday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 18.24 and a beta of 2.18. Trinity Industries, Inc. has a 12-month low of $20.80 and a 12-month high of $30.13. The stock has a 50 day moving average price of $28.41 and a 200-day moving average price of $27.18.
Trinity Industries (NYSE:TRN) last posted its earnings results on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The firm had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $947.40 million. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue was down 23.6% compared to the same quarter last year. Equities analysts forecast that Trinity Industries, Inc. will post $1.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, October 12th. Trinity Industries’s payout ratio is currently 32.10%.
In related news, major shareholder Holdings L.P. Valueact acquired 100,000 shares of Trinity Industries stock in a transaction dated Wednesday, August 2nd. The stock was acquired at an average cost of $27.38 per share, with a total value of $2,738,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Valueact Capital Master Fund, acquired 54,055 shares of Trinity Industries stock in a transaction dated Friday, September 8th. The shares were bought at an average cost of $28.46 per share, with a total value of $1,538,405.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,709,624 shares of company stock valued at $48,298,143. 2.00% of the stock is currently owned by corporate insiders.
Several research analysts have commented on TRN shares. Cowen and Company lifted their price target on Trinity Industries from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. ValuEngine raised Trinity Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Axiom Securities reaffirmed a “sell” rating on shares of Trinity Industries in a research report on Thursday, July 13th. BidaskClub raised Trinity Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus raised Trinity Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $31.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.89.
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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