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

Shares of Trinity Industries, Inc. (NYSE:TRN) reached a new 52-week low during 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

Several research firms have recently weighed in on TRN. Susquehanna dropped their target price 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 report on Tuesday. Finally, Weiss Ratings downgraded shares of Trinity Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Three equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Trinity Industries currently has an average rating of “Hold” and a consensus price target of $32.00.

Trinity Industries Price Performance

The stock has a fifty day moving average price of $27.80 and a 200-day moving average price of $31.84. The company has a market cap of $1.98 billion, a PE ratio of 6.03 and a beta of 1.37. The company has a debt-to-equity ratio of 4.56, a current ratio of 1.89 and a quick ratio of 0.91.

Trinity Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.0%. Trinity Industries’s payout ratio is currently 29.88%.

Insiders Place Their Bets

In related news, EVP Kevin Poet sold 17,000 shares of the company’s stock in a transaction on 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 approximately $2,045,598.75. The trade was a 19.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Trinity Industries

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. increased its holdings in shares of Trinity Industries by 880.7% in the 1st quarter. Whittier Trust Co. now owns 863 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 775 shares during the period. Nykredit A S purchased a new stake in shares of Trinity Industries in the second quarter worth approximately $31,000. Tompkins Financial Corp purchased a new stake in shares of Trinity Industries in the third quarter worth approximately $51,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Trinity Industries in the second quarter worth approximately $81,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Trinity Industries during the first quarter worth approximately $123,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

About Trinity Industries

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.