Riverhead Capital Management LLC Acquires 41,354 Shares of Trinity Industries, Inc. (TRN)

Riverhead Capital Management LLC lifted its holdings in shares of Trinity Industries, Inc. (NYSE:TRN) by 30.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,641 shares of the transportation company’s stock after purchasing an additional 41,354 shares during the quarter. Riverhead Capital Management LLC owned 0.12% of Trinity Industries worth $4,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Mercantile Trust Co. increased its holdings in shares of Trinity Industries by 10.9% during the second quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock worth $163,000 after purchasing an additional 570 shares during the period. Invictus RG increased its holdings in shares of 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 purchasing an additional 5,275 shares during the period. Pacad Investment Ltd. increased its holdings in shares of 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 purchasing an additional 1,900 shares during the period. Fisher Asset Management LLC bought a new position in shares of Trinity Industries during the second quarter worth approximately $205,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Trinity Industries during the second quarter worth approximately $208,000. 80.92% of the stock is currently owned by institutional investors.

Shares of Trinity Industries, Inc. (NYSE TRN) traded up 1.06% on Tuesday, reaching $29.56. 37,031 shares of the company were exchanged. Trinity Industries, Inc. has a 12-month low of $20.80 and a 12-month high of $30.13. The firm has a 50 day moving average price of $28.39 and a 200-day moving average price of $27.17. The stock has a market capitalization of $4.47 billion, a PE ratio of 18.17 and a beta of 2.18.

Trinity Industries (NYSE:TRN) last posted its earnings results on Tuesday, July 25th. The transportation company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $905.50 million for the quarter, compared to analyst estimates of $947.40 million. Trinity Industries had a net margin of 6.20% and a return on equity of 5.75%. Trinity Industries’s revenue was down 23.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, analysts predict that Trinity Industries, Inc. will post $1.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is presently 32.10%.

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TRN has been the topic of several recent research reports. Cowen and Company raised their target price on shares of Trinity Industries from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. ValuEngine raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Axiom Securities reaffirmed a “sell” rating on shares of Trinity Industries in a report on Thursday, July 13th. BidaskClub raised shares of Trinity Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Finally, Stifel Nicolaus raised shares of Trinity Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Thursday, July 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.89.

In related news, major shareholder Holdings L.P. Valueact purchased 167,395 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $27.51 per share, with a total value of $4,605,036.45. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Valueact Capital Master Fund, purchased 54,055 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was bought at an average cost of $28.46 per share, for a total transaction of $1,538,405.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,709,624 shares of company stock worth $48,298,143 in the last ninety days. 2.00% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Trinity Industries (NYSE:TRN)

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