Cibc World Markets Corp Purchases Shares of 14,900 Trinity Industries, Inc. (TRN)
Cibc World Markets Corp purchased a new stake in shares of Trinity Industries, Inc. (NYSE:TRN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,900 shares of the transportation company’s stock, valued at approximately $418,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of TRN. Suntrust Banks Inc. grew its holdings in Trinity Industries by 4.2% during the 2nd quarter. Suntrust Banks Inc. now owns 36,309 shares of the transportation company’s stock worth $1,017,000 after acquiring an additional 1,450 shares during the period. Vanguard Group Inc. raised its position in shares of Trinity Industries by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,345,367 shares of the transportation company’s stock worth $346,040,000 after acquiring an additional 78,124 shares in the last quarter. Public Sector Pension investment Board bought a new position in shares of Trinity Industries in the 2nd quarter worth about $5,606,000. UBS Asset Management Americas Inc. raised its position in shares of Trinity Industries by 7.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 131,929 shares of the transportation company’s stock worth $3,698,000 after acquiring an additional 9,252 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new position in shares of Trinity Industries in the 2nd quarter worth about $3,450,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Buckingham Research assumed coverage on Trinity Industries in a research report on Wednesday, June 21st. They set a “buy” rating and a $32.00 target price on the stock. Axiom Securities reaffirmed a “sell” rating and set a $11.00 target price on shares of Trinity Industries in a research note on Friday, June 30th. ValuEngine cut Trinity Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded Trinity Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Finally, Zacks Investment Research downgraded Trinity Industries from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Trinity Industries has an average rating of “Buy” and an average target price of $33.25.
Trinity Industries, Inc. (NYSE TRN) opened at 35.07 on Wednesday. The company has a market cap of $5.31 billion, a PE ratio of 21.56 and a beta of 2.19. The stock’s 50 day moving average is $29.70 and its 200-day moving average is $27.67. Trinity Industries, Inc. has a 52-week low of $20.80 and a 52-week high of $35.97.
Trinity Industries (NYSE:TRN) last announced its earnings results on Tuesday, July 25th. The transportation company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Trinity Industries had a return on equity of 5.75% and a net margin of 6.20%. The company had revenue of $905.50 million during the quarter, compared to the consensus estimate of $947.40 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was down 23.6% on a year-over-year basis. Equities research analysts predict that Trinity Industries, Inc. will post $1.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is currently 32.10%.
In related news, major shareholder Valueact Capital Master Fund, acquired 60,819 shares of the stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $28.39 per share, for a total transaction of $1,726,651.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings L.P. Valueact acquired 167,395 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $27.51 per share, with a total value of $4,605,036.45. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,709,624 shares of company stock worth $48,298,143. 2.00% of the stock is currently owned by company insiders.
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Trinity Industries Profile
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.
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