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

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRN. The Goldman Sachs Group began coverage on shares of Trinity Industries in a research report on Monday, November 18th. They set a “neutral” rating and a $39.00 price target for the company. StockNews.com cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Trinity Industries Stock Performance

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 company’s 50 day moving average is $36.26 and its 200-day moving average is $35.23. The company has a market capitalization of $2.49 billion, a P/E ratio of 18.46 and a beta of 1.40.

Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Thursday, February 20th. The transportation company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $629.40 million during 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%. Equities analysts anticipate that Trinity Industries, Inc. will post 1.65 EPS for the current fiscal 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Wednesday, January 15th. This is an increase from Trinity Industries’s previous quarterly dividend of $0.28. Trinity Industries’s dividend payout ratio (DPR) is presently 73.17%.

Hedge Funds Weigh In On Trinity Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealthfront Advisers LLC purchased a new position in Trinity Industries during the fourth quarter valued at approximately $104,136,000. American Century Companies Inc. lifted its holdings in Trinity Industries by 25.6% during the fourth quarter. American Century Companies Inc. now owns 2,187,366 shares of the transportation company’s stock valued at $76,777,000 after purchasing an additional 446,142 shares in the last quarter. Granite Investment Partners LLC purchased a new position in Trinity Industries during the fourth quarter valued at approximately $14,532,000. Raymond James Financial Inc. purchased a new position in Trinity Industries during the fourth quarter valued at approximately $11,322,000. Finally, Northern Trust Corp lifted its holdings in Trinity Industries by 33.6% during the fourth quarter. Northern Trust Corp now owns 1,172,036 shares of the transportation company’s stock valued at $41,138,000 after purchasing an additional 295,054 shares in the last quarter. 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.