Trinity Industries (TRN) Sees Unusually-High Trading Volume Following Dividend Announcement
Trinity Industries, Inc. (NYSE:TRN) saw unusually-strong trading volume on Tuesday following a dividend announcement from the company. Approximately 6,407,848 shares changed hands during trading, an increase of 392% from the previous session’s volume of 1,303,113 shares.The stock last traded at $36.88 and had previously closed at $35.80.
The newly announced dividend which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, January 11th. Trinity Industries’s payout ratio is currently 34.67%.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Friday, August 25th. Susquehanna Bancshares upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. ValuEngine cut shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Cowen reiterated a “buy” rating and issued a $31.00 target price on shares of Trinity Industries in a research note on Monday, August 28th. Finally, UBS upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.00.
Trinity Industries (NYSE:TRN) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. Trinity Industries had a net margin of 5.97% and a return on equity of 5.32%. The company had revenue of $973.60 million for the quarter, compared to analyst estimates of $951.60 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. equities analysts forecast that Trinity Industries, Inc. will post 1.49 EPS for the current year.
Trinity Industries declared that its board has approved a stock buyback plan on Tuesday, December 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other news, major shareholder Valueact Capital Master Fund, purchased 832,600 shares of the business’s stock in a transaction on Monday, October 30th. The shares were acquired at an average price of $31.68 per share, with a total value of $26,376,768.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Holdings L.P. Valueact purchased 125,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $32.89 per share, for a total transaction of $4,111,250.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,722,237 shares of company stock worth $55,164,869. 2.00% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in TRN. Janus Henderson Group PLC bought a new stake in Trinity Industries in the 2nd quarter worth $108,733,000. ValueAct Holdings L.P. boosted its stake in shares of Trinity Industries by 10.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock valued at $550,438,000 after purchasing an additional 1,672,510 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Trinity Industries by 124.9% during the 2nd quarter. Jennison Associates LLC now owns 928,230 shares of the transportation company’s stock valued at $26,018,000 after purchasing an additional 515,568 shares in the last quarter. NWQ Investment Management Company LLC bought a new stake in shares of Trinity Industries during the 3rd quarter valued at about $12,484,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Trinity Industries by 1,204.5% during the 3rd quarter. Sterling Capital Management LLC now owns 411,492 shares of the transportation company’s stock valued at $13,127,000 after purchasing an additional 379,948 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.
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Trinity Industries Company 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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