Retirement Systems of Alabama cut its stake in shares of Trinity Industries Inc. (NYSE:TRN) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,533 shares of the company’s stock after selling 2,570 shares during the period. Retirement Systems of Alabama’s holdings in Trinity Industries were worth $3,612,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in TRN. LS Investment Advisors LLC raised its stake in Trinity Industries by 71.6% in the second quarter. LS Investment Advisors LLC now owns 9,285 shares of the company’s stock valued at $172,000 after buying an additional 3,875 shares during the period. Meeder Asset Management Inc. purchased a new stake in Trinity Industries during the first quarter valued at approximately $195,000. Fulton Bank N.A. raised its stake in Trinity Industries by 1.4% in the second quarter. Fulton Bank N.A. now owns 15,619 shares of the company’s stock valued at $290,000 after buying an additional 223 shares during the period. Park National Corp OH raised its stake in Trinity Industries by 0.9% in the second quarter. Park National Corp OH now owns 16,049 shares of the company’s stock valued at $298,000 after buying an additional 150 shares during the period. Finally, CIBC World Markets Inc. raised its stake in Trinity Industries by 18.5% in the second quarter. CIBC World Markets Inc. now owns 19,021 shares of the company’s stock valued at $353,000 after buying an additional 2,972 shares during the period. Hedge funds and other institutional investors own 72.09% of the company’s stock.
Trinity Industries Inc. (NYSE:TRN) traded up 1.00% on Tuesday, reaching $23.13. The company had a trading volume of 616,574 shares. The stock has a 50 day moving average price of $23.91 and a 200 day moving average price of $20.91. Trinity Industries Inc. has a 52-week low of $14.94 and a 52-week high of $30.38. The stock has a market capitalization of $3.52 billion, a PE ratio of 5.98 and a beta of 2.16.
Trinity Industries (NYSE:TRN) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.14. Trinity Industries had a net margin of 10.91% and a return on equity of 14.62%. The company earned $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm earned $1.33 EPS. Analysts expect that Trinity Industries Inc. will post $2.20 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. Trinity Industries’s payout ratio is 11.37%.
Several research firms have commented on TRN. KeyCorp reiterated a “buy” rating and set a $28.00 price objective on shares of Trinity Industries in a research note on Monday, October 3rd. Stifel Nicolaus boosted their price objective on Trinity Industries from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, September 30th. Credit Agricole SA began coverage on Trinity Industries in a research note on Friday, September 30th. They set an “underperform” rating and a $26.00 price objective for the company. Zacks Investment Research lowered Trinity Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Finally, Wells Fargo & Co. reiterated a “hold” rating and set a $22.00 price objective on shares of Trinity Industries in a research note on Monday, September 19th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of €21.11 ($23.20).
About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical 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; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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