Trinity Industries, Inc. (NYSE:TRN) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in shares of Trinity Industries, Inc. (NYSE:TRN) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,769 shares of the transportation company’s stock after selling 5,245 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Trinity Industries were worth $1,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TRN. Wellington Shields Capital Management LLC acquired a new position in shares of Trinity Industries during the 4th quarter worth $35,000. Smartleaf Asset Management LLC grew its stake in Trinity Industries by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,532 shares of the transportation company’s stock valued at $54,000 after acquiring an additional 713 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Trinity Industries during the 4th quarter valued at about $54,000. Jones Financial Companies Lllp raised its position in Trinity Industries by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,997 shares of the transportation company’s stock worth $105,000 after acquiring an additional 398 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Trinity Industries by 71.6% in the fourth quarter. KBC Group NV now owns 3,952 shares of the transportation company’s stock valued at $139,000 after purchasing an additional 1,649 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Gregory B. Mitchell sold 9,286 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $31.02, for a total transaction of $288,051.72. Following the completion of the sale, the executive vice president now directly owns 111,879 shares of the company’s stock, valued at $3,470,486.58. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRN. The Goldman Sachs Group cut their price objective on Trinity Industries from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Susquehanna cut their price objective on Trinity Industries from $35.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd.

Trinity Industries Stock Performance

Shares of Trinity Industries stock opened at $25.05 on Thursday. The company has a debt-to-equity ratio of 4.35, a current ratio of 1.80 and a quick ratio of 1.08. Trinity Industries, Inc. has a 1 year low of $23.50 and a 1 year high of $39.83. The company has a market capitalization of $2.04 billion, a P/E ratio of 15.27 and a beta of 1.49. The business has a 50 day moving average price of $27.65 and a 200 day moving average price of $33.39.

Trinity Industries (NYSE:TRN) last released its earnings results on Thursday, February 20th. The transportation company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $629.40 million during the quarter, compared to analysts’ expectations of $589.30 million. Trinity Industries had a net margin of 4.49% and a return on equity of 11.78%. Sell-side analysts anticipate that Trinity Industries, Inc. will post 1.65 EPS for the current fiscal year.

Trinity Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a $0.30 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $1.20 annualized dividend and a yield of 4.79%. Trinity Industries’s payout ratio is currently 73.17%.

Trinity Industries Profile

Trinity Industries, Inc provides rail transportation products and services under the TrinityRail name in North America. It operates in two segments, Railcar Leasing and Management Services Group, and Rail Products Group. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investors; and provides fleet maintenance and management services.