Trinity Industries, Inc. (NYSE:TRN – Get Free Report) shares hit a new 52-week low during trading on Tuesday. The stock traded as low as $24.28 and last traded at $24.60, with a volume of 32,311 shares traded. The stock had previously closed at $24.87.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $30.00 price target on shares of Trinity Industries in a report on Tuesday. Susquehanna reduced their price target on shares of Trinity Industries from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Trinity Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.00.
Trinity Industries Stock Up 1.6%
The company has a debt-to-equity ratio of 4.56, a current ratio of 1.89 and a quick ratio of 0.91. The firm has a market cap of $2.01 billion, a PE ratio of 6.07 and a beta of 1.37. The business has a fifty day moving average price of $27.65 and a two-hundred day moving average price of $31.72.
Trinity Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 15th. Trinity Industries’s dividend payout ratio is currently 29.88%.
Insider Buying and Selling
In other Trinity Industries news, EVP Kevin Poet sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $29.55, for a total transaction of $502,350.00. Following the completion of the sale, the executive vice president directly owned 69,225 shares in the company, valued at approximately $2,045,598.75. This trade represents a 19.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.
Hedge Funds Weigh In On Trinity Industries
Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Trinity Industries by 2.9% in the second quarter. BlackRock Inc. now owns 13,356,707 shares of the transportation company’s stock worth $461,875,000 after purchasing an additional 370,390 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Trinity Industries by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,801,236 shares of the transportation company’s stock worth $154,500,000 after purchasing an additional 81,263 shares during the period. State Street Corp boosted its holdings in shares of Trinity Industries by 6.3% during the second quarter. State Street Corp now owns 4,123,807 shares of the transportation company’s stock worth $142,601,000 after purchasing an additional 245,434 shares during the period. Bank of America Corp DE grew its position in Trinity Industries by 9.2% during the first quarter. Bank of America Corp DE now owns 1,089,488 shares of the transportation company’s stock valued at $35,060,000 after purchasing an additional 91,964 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Trinity Industries by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 890,037 shares of the transportation company’s stock valued at $30,777,000 after purchasing an additional 3,568 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.
Trinity Industries Company Profile
Trinity Industries, Inc is a North American industrial company focused primarily on rail transportation products and services. Through its TrinityRail business, the company designs and manufactures freight railcars, including covered hoppers, gondolas, tank cars and other specialized rail equipment used to transport commodities and industrial goods.
TrinityRail also provides railcar leasing, fleet management, maintenance and refurbishment services. These offerings support railroads, shippers and other fleet owners throughout the life cycle of their equipment, from initial design and production to ongoing maintenance and compliance services.
Founded in 1933 and headquartered in Dallas, Texas, Trinity Industries has historically operated across several industrial and infrastructure markets, but has increasingly concentrated on its rail platform.
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