First National Bank of Mount Dora Trust Investment Services lowered its position in Trinity Industries Inc (NYSE:TRN) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 102,179 shares of the transportation company’s stock after selling 8,025 shares during the period. Trinity Industries comprises approximately 1.7% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 28th biggest position. First National Bank of Mount Dora Trust Investment Services owned approximately 0.07% of Trinity Industries worth $3,828,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sippican Capital Advisors purchased a new stake in Trinity Industries during the 3rd quarter valued at about $211,000. Griffin Asset Management Inc. purchased a new stake in Trinity Industries during the 3rd quarter valued at about $213,000. Pacad Investment Ltd. grew its stake in Trinity Industries by 36.5% during the 2nd quarter. Pacad Investment Ltd. now owns 7,100 shares of the transportation company’s stock valued at $199,000 after acquiring an additional 1,900 shares in the last quarter. Commerce Bank purchased a new stake in Trinity Industries during the 3rd quarter valued at about $255,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in Trinity Industries during the 2nd quarter valued at about $230,000. Hedge funds and other institutional investors own 82.38% of the company’s stock.
In other news, major shareholder Valueact Capital Master Fund, acquired 13,687 shares of Trinity Industries stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $31.98 per share, for a total transaction of $437,710.26. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Valueact purchased 300,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were bought at an average price of $31.45 per share, for a total transaction of $9,435,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 1,722,237 shares of company stock worth $55,164,869 over the last 90 days. Company insiders own 2.00% of the company’s stock.
Trinity Industries (NYSE:TRN) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.11. The company had revenue of $973.60 million for the quarter, compared to analyst estimates of $951.60 million. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. equities analysts predict that Trinity Industries Inc will post 1.48 earnings per share for the current year.
Trinity Industries announced that its Board of Directors has approved a stock buyback program on Tuesday, December 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be issued a $0.13 dividend. The ex-dividend date is Thursday, January 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. Trinity Industries’s payout ratio is 34.67%.
TRN has been the subject of several research reports. UBS Group raised shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. Stifel Nicolaus reissued a “buy” rating and issued a $43.00 price target on shares of Trinity Industries in a research note on Friday, December 22nd. Zacks Investment Research cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Cowen increased their price objective on shares of Trinity Industries from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 13th. Finally, ValuEngine cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Trinity Industries presently has an average rating of “Buy” and an average price target of $36.25.
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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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