Trinity Industries Inc. (TRN) To Go Ex-Dividend on October 12th
Trinity Industries Inc. (NYSE:TRN) declared a quarterly dividend on Thursday, September 8th. Stockholders of record on Friday, October 14th will be given a dividend of 0.01 per share on Monday, October 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Wednesday, October 12th.
Trinity Industries (NYSE:TRN) opened at 24.76 on Friday. Trinity Industries has a 12-month low of $14.94 and a 12-month high of $30.38. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 6.40 and a beta of 2.16. The stock’s 50 day moving average price is $24.18 and its 200 day moving average price is $20.62.
Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.14. Trinity Industries had a return on equity of 14.62% and a net margin of 10.91%. The business earned $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts forecast that Trinity Industries will post $2.20 EPS for the current fiscal year.
Several brokerages have weighed in on TRN. Zacks Investment Research downgraded Trinity Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Stifel Nicolaus lifted their target price on Trinity Industries from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, September 30th. Cowen and Company lifted their target price on Trinity Industries from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, July 25th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Trinity Industries in a research note on Wednesday, June 22nd. Finally, TheStreet raised Trinity Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Trinity Industries presently has an average rating of “Hold” and a consensus target price of €21.11 ($23.46).
Several large investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Trinity Industries by 5.2% in the second quarter. BlackRock Fund Advisors now owns 5,239,663 shares of the company’s stock worth $97,301,000 after buying an additional 256,741 shares during the period. AQR Capital Management LLC raised its stake in shares of Trinity Industries by 11.7% in the second quarter. AQR Capital Management LLC now owns 2,013,349 shares of the company’s stock worth $37,387,000 after buying an additional 211,659 shares during the period. Credit Suisse AG raised its stake in shares of Trinity Industries by 17.8% in the second quarter. Credit Suisse AG now owns 1,085,823 shares of the company’s stock worth $20,164,000 after buying an additional 164,428 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Trinity Industries by 13.7% in the second quarter. Parametric Portfolio Associates LLC now owns 535,726 shares of the company’s stock worth $9,948,000 after buying an additional 64,379 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in shares of Trinity Industries by 1.6% in the second quarter. BlackRock Investment Management LLC now owns 447,268 shares of the company’s stock worth $8,306,000 after buying an additional 6,910 shares during the period. 72.15% of the stock is currently owned by institutional investors.
About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical 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; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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