Trinity Industries (NYSE:TRN) Hits New 12-Month Low – Here’s What Happened

Trinity Industries, Inc. (NYSE:TRN) shares hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $24.28 and last traded at $24.60, with a volume of 32,311 shares changing hands. The stock had previously closed at $24.87.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRN shares. Susquehanna dropped their price target on shares of Trinity Industries from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. The Goldman Sachs Group set a $30.00 price target on shares of Trinity Industries in a research note on Tuesday. Finally, Weiss Ratings cut shares of Trinity Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.00.

Trinity Industries Trading Up 0.2%

The stock has a market capitalization of $1.98 billion, a P/E ratio of 6.03 and a beta of 1.37. The business has a 50 day simple moving average of $27.80 and a 200-day simple moving average of $31.84. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.91 and a current ratio of 1.89.

Trinity Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.24 annualized dividend and a yield of 5.0%. Trinity Industries’s dividend payout ratio (DPR) is currently 29.88%.

Insider Transactions at Trinity Industries

In related news, EVP Kevin Poet sold 17,000 shares of Trinity Industries stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $29.55, for a total transaction of $502,350.00. Following the transaction, the executive vice president directly owned 69,225 shares of the company’s stock, valued at $2,045,598.75. The trade was a 19.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trinity Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. grew its holdings in shares of Trinity Industries by 7.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 76,990 shares of the transportation company’s stock worth $1,990,000 after acquiring an additional 5,365 shares during the last quarter. Ellsworth Advisors LLC raised its position in shares of Trinity Industries by 8.1% during the third quarter. Ellsworth Advisors LLC now owns 64,546 shares of the transportation company’s stock worth $1,649,000 after purchasing an additional 4,815 shares during the period. Bank & Trust Co lifted its holdings in shares of Trinity Industries by 33.3% during the third quarter. Bank & Trust Co now owns 9,440 shares of the transportation company’s stock valued at $241,000 after purchasing an additional 2,360 shares during the last quarter. Tompkins Financial Corp purchased a new stake in shares of Trinity Industries during the third quarter valued at $51,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Trinity Industries by 4.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 19,641 shares of the transportation company’s stock valued at $679,000 after purchasing an additional 920 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Trinity Industries Company Profile

Trinity Industries, Inc is a Dallas-based industrial company focused on rail transportation products and services. Through its TrinityRail business, the company designs, manufactures, sells and leases freight railcars used to transport commodities and industrial products across North America.

TrinityRail’s offerings include a broad range of railcar types, along with railcar parts, maintenance, refurbishment, engineering and fleet-management services. Its leasing and asset-management activities support railroads, shippers and other transportation customers throughout the railcar life cycle.

Founded in 1933 as Trinity Steel, Trinity Industries has evolved from a steel fabrication business into a specialized rail transportation company.