Trinity Industries Inc (TRN) to Issue Quarterly Dividend of $0.13
Trinity Industries Inc (NYSE:TRN) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Tuesday, January 15th will be paid a dividend of 0.13 per share by the transportation company on Thursday, January 31st. This represents a $0.52 annualized dividend and a dividend yield of 2.30%.
Trinity Industries has raised its dividend by an average of 11.1% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Trinity Industries has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Trinity Industries to earn $1.33 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 39.1%.
Shares of Trinity Industries stock traded up $0.19 during trading on Thursday, hitting $22.61. 2,533,172 shares of the company were exchanged, compared to its average volume of 1,798,409. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.50 and a quick ratio of 1.38. Trinity Industries has a fifty-two week low of $20.65 and a fifty-two week high of $39.35. The company has a market capitalization of $3.28 billion, a P/E ratio of 14.88, a P/E/G ratio of 3.40 and a beta of 2.29.
Several analysts have commented on TRN shares. Cowen lowered their target price on shares of Trinity Industries from $47.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. UBS Group raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. Wells Fargo & Co lowered their target price on shares of Trinity Industries from $53.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, November 1st. They noted that the move was a valuation call. Seaport Global Securities raised shares of Trinity Industries from a “neutral” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Monday, November 26th. Finally, Vertical Group cut shares of Trinity Industries from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.20.
In related news, Director Brandon B. Boze acquired 8,788 shares of the stock in a transaction dated Friday, November 23rd. The stock was bought at an average cost of $22.00 per share, with a total value of $193,336.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brandon B. Boze acquired 143,576 shares of the stock in a transaction dated Tuesday, November 20th. The shares were bought at an average cost of $21.99 per share, with a total value of $3,157,236.24. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by insiders.
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About Trinity Industries
Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.
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