Millennium Management LLC raised its holdings in Trinity Industries Inc (NYSE:TRN) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,541,397 shares of the transportation company’s stock after acquiring an additional 130,924 shares during the period. Millennium Management LLC’s holdings in Trinity Industries were worth $57,741,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. ValueAct Holdings L.P. grew its stake in Trinity Industries by 10.7% in the third quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock valued at $550,438,000 after acquiring an additional 1,672,510 shares during the period. Cipher Capital LP acquired a new position in Trinity Industries in the third quarter valued at about $816,000. Creative Planning grew its stake in Trinity Industries by 11.7% in the fourth quarter. Creative Planning now owns 22,260 shares of the transportation company’s stock valued at $834,000 after acquiring an additional 2,328 shares during the period. James Investment Research Inc. grew its stake in Trinity Industries by 15.2% in the fourth quarter. James Investment Research Inc. now owns 413,366 shares of the transportation company’s stock valued at $15,485,000 after acquiring an additional 54,610 shares during the period. Finally, Zuckerman Investment Group LLC grew its stake in Trinity Industries by 111.4% in the third quarter. Zuckerman Investment Group LLC now owns 329,933 shares of the transportation company’s stock valued at $10,525,000 after acquiring an additional 173,883 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.
Trinity Industries Inc (NYSE:TRN) opened at $32.78 on Tuesday. Trinity Industries Inc has a 52-week low of $25.01 and a 52-week high of $38.25. 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 $4,945.47, a P/E ratio of 22.01, a P/E/G ratio of 2.49 and a beta of 2.03.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings results on Wednesday, February 21st. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. Trinity Industries had a return on equity of 5.34% and a net margin of 19.15%. The firm had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. equities analysts predict that Trinity Industries Inc will post 1.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, April 12th. This represents a $0.52 annualized dividend and a yield of 1.59%. Trinity Industries’s dividend payout ratio (DPR) is presently 11.61%.
Trinity Industries announced that its board has initiated a stock repurchase plan on Tuesday, December 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research firms have issued reports on TRN. Zacks Investment Research raised Trinity Industries from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Vertical Group assumed coverage on Trinity Industries in a research report on Tuesday, March 6th. They set a “sell” rating and a $20.00 price objective for the company. Stifel Nicolaus set a $40.00 price objective on Trinity Industries and gave the stock a “buy” rating in a research report on Friday, February 9th. Vertical Research assumed coverage on Trinity Industries in a research report on Tuesday, March 6th. They set a “sell” rating and a $20.00 price objective for the company. Finally, Susquehanna Bancshares upped their price objective on Trinity Industries from $40.00 to $52.00 and gave the stock a “positive” rating in a research report on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Trinity Industries has a consensus rating of “Hold” and an average price target of $35.75.
In related news, major shareholder Holdings L.P. Valueact purchased 350,000 shares of Trinity Industries stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $32.85 per share, with a total value of $11,497,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Valueact Capital Master Fund, purchased 900,000 shares of Trinity Industries stock in a transaction that occurred on Monday, March 19th. The shares were bought at an average cost of $32.77 per share, with a total value of $29,493,000.00. The disclosure for this purchase can be found here. Insiders have purchased 2,176,882 shares of company stock valued at $71,475,543 over the last three months. Insiders own 2.00% of the company’s stock.
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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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