Trinity Industries, Inc. to Issue Quarterly Dividend of $0.13 (TRN)
Trinity Industries, Inc. (NYSE:TRN) declared a quarterly dividend on Tuesday, December 12th, Zacks reports. Shareholders of record on Friday, January 12th will be given a dividend of 0.13 per share by the transportation company on Wednesday, January 31st. This represents a $0.52 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 11th.
Trinity Industries has increased its dividend by an average of 20.7% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Trinity Industries has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Trinity Industries to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 40.3%.
Trinity Industries (NYSE TRN) traded up $1.08 during trading hours on Wednesday, reaching $36.88. The company’s stock had a trading volume of 6,407,800 shares, compared to its average volume of 1,303,113. The company has a quick ratio of 2.62, a current ratio of 3.70 and a debt-to-equity ratio of 0.75. Trinity Industries has a one year low of $25.01 and a one year high of $37.45. The firm has a market capitalization of $5,433.85, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.40 and a beta of 2.26.
Trinity Industries (NYSE:TRN) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Trinity Industries had a return on equity of 5.32% and a net margin of 5.97%. The company had revenue of $973.60 million for the quarter, compared to analysts’ expectations of $951.60 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. equities analysts predict that Trinity Industries will post 1.49 earnings per share for the current fiscal year.
Trinity Industries declared that its board has approved a share repurchase program on Tuesday, December 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, bought 832,600 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average price of $31.68 per share, with a total value of $26,376,768.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Valueact bought 125,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $32.89 per share, for a total transaction of $4,111,250.00. The disclosure for this purchase can be found here. Insiders purchased 1,722,237 shares of company stock worth $55,164,869 in the last three months. 2.00% of the stock is currently owned by corporate insiders.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Trinity Industries from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Thursday, August 17th. Cowen increased their price objective on Trinity Industries from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday. KeyCorp reiterated a “buy” rating and issued a $41.00 price objective (up from $34.00) on shares of Trinity Industries in a research note on Monday, October 2nd. Stephens reiterated an “equal weight” rating and issued a $35.00 price objective (up from $29.00) on shares of Trinity Industries in a research note on Tuesday, October 3rd. Finally, Buckingham Research increased their price objective on Trinity Industries from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.00.
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Trinity Industries Company 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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