Trinity Industries (NYSE:TRN) Shares Down 8.7% – Here’s Why

Trinity Industries, Inc. (NYSE:TRN) was down 8.7% during mid-day trading on Thursday . The stock traded as low as $30.50 and last traded at $31.25. Approximately 736,524 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 493,549 shares. The stock had previously closed at $34.21.

Analysts Set New Price Targets

Several analysts have recently issued reports on TRN shares. The Goldman Sachs Group started coverage on shares of Trinity Industries in a research report on Monday, November 18th. They issued a “neutral” rating and a $39.00 price target on the stock. StockNews.com lowered shares of Trinity Industries from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Trinity Industries Stock Down 3.5 %

The stock’s fifty day moving average is $36.26 and its two-hundred day moving average is $35.23. The company has a current ratio of 1.80, a quick ratio of 1.08 and a debt-to-equity ratio of 4.35. The firm has a market cap of $2.49 billion, a P/E ratio of 18.46 and a beta of 1.40.

Trinity Industries (NYSE:TRN) last posted its earnings results on Thursday, February 20th. The transportation company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $629.40 million for the quarter, compared to analyst estimates of $589.30 million. Trinity Industries had a net margin of 4.49% and a return on equity of 11.78%. As a group, research analysts anticipate that Trinity Industries, Inc. will post 1.65 earnings per share for the current year.

Trinity Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $0.30 dividend. This is a positive change from Trinity Industries’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, January 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.96%. Trinity Industries’s dividend payout ratio is presently 73.17%.

Institutional Investors Weigh In On Trinity Industries

A number of institutional investors have recently made changes to their positions in TRN. Creative Planning boosted its stake in shares of Trinity Industries by 6.1% in the 3rd quarter. Creative Planning now owns 17,388 shares of the transportation company’s stock valued at $606,000 after purchasing an additional 1,000 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Trinity Industries by 3,384.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,452 shares of the transportation company’s stock valued at $364,000 after purchasing an additional 10,152 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Trinity Industries by 25.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 25,500 shares of the transportation company’s stock valued at $888,000 after purchasing an additional 5,247 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Trinity Industries in the 3rd quarter valued at $270,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Trinity Industries in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Trinity Industries Company 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.