State of Tennessee Treasury Department Makes New $1.97 Million Investment in Trinity Industries Inc (NYSE:TRN)

State of Tennessee Treasury Department acquired a new position in shares of Trinity Industries Inc (NYSE:TRN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the transportation company’s stock, valued at approximately $1,968,000.

Other institutional investors also recently bought and sold shares of the company. FTB Advisors Inc. bought a new position in Trinity Industries during the 2nd quarter worth $42,000. Quest Capital Management Inc. ADV bought a new position in Trinity Industries during the 3rd quarter worth $59,000. Point72 Hong Kong Ltd bought a new position in Trinity Industries during the 2nd quarter worth $119,000. Holocene Advisors LP bought a new position in Trinity Industries during the 2nd quarter worth $204,000. Finally, Cutter & CO Brokerage Inc. bought a new position in Trinity Industries during the 2nd quarter worth $212,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.

Shares of TRN traded down $0.08 during midday trading on Monday, hitting $21.17. The company’s stock had a trading volume of 5,832 shares, compared to its average volume of 1,494,822. The company has a quick ratio of 0.68, a current ratio of 1.70 and a debt-to-equity ratio of 1.91. Trinity Industries Inc has a one year low of $16.03 and a one year high of $26.63. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.75 and a beta of 2.05. The company’s fifty day simple moving average is $18.88 and its two-hundred day simple moving average is $19.50.

Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. Trinity Industries had a return on equity of 6.27% and a net margin of 4.96%. The company had revenue of $813.60 million for the quarter, compared to the consensus estimate of $809.80 million. During the same quarter last year, the business posted $0.39 EPS. Trinity Industries’s revenue for the quarter was up 34.1% on a year-over-year basis. On average, research analysts predict that Trinity Industries Inc will post 1.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, October 11th. Trinity Industries’s dividend payout ratio (DPR) is 85.00%.

In other news, Director Brandon B. Boze acquired 600,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $19.84 per share, with a total value of $11,904,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brandon B. Boze acquired 400,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $20.46 per share, for a total transaction of $8,184,000.00. The disclosure for this purchase can be found here. Company insiders own 18.50% of the company’s stock.

Several brokerages have recently issued reports on TRN. Peel Hunt reiterated a “hold” rating on shares of Trinity Industries in a research note on Friday, October 25th. Cowen decreased their price target on Trinity Industries from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Susquehanna Bancshares lowered Trinity Industries from a “positive” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $22.00 in a research note on Friday. Buckingham Research set a $18.00 price target on Trinity Industries and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Stephens set a $20.00 price target on Trinity Industries and gave the company a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $23.22.

About Trinity Industries

Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.

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

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