Trinity Industries, Inc. (TRN) To Go Ex-Dividend on July 15th

Trinity Industries, Inc. (NYSE:TRN) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Stockholders of record on Tuesday, July 15th will be given a dividend of 0.30 per share by the transportation company on Thursday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Tuesday, July 15th.

Trinity Industries has increased its dividend by an average of 9.9% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Trinity Industries has a payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings.

Trinity Industries Stock Performance

Shares of NYSE TRN opened at $26.89 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 1.08 and a current ratio of 1.80. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 16.39 and a beta of 1.47. The business’s 50-day simple moving average is $26.54 and its 200-day simple moving average is $32.57. Trinity Industries has a 52 week low of $23.01 and a 52 week high of $39.83.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings data on Thursday, May 1st. The transportation company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). Trinity Industries had a return on equity of 11.78% and a net margin of 4.49%. The company had revenue of $585.40 million during the quarter, compared to the consensus estimate of $614.02 million. During the same quarter last year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 27.7% on a year-over-year basis. As a group, equities research analysts expect that Trinity Industries will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Trinity Industries

In related news, EVP Gregory B. Mitchell sold 9,286 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $31.02, for a total value of $288,051.72. Following the completion of the transaction, the executive vice president now directly owns 111,879 shares of the company’s stock, valued at approximately $3,470,486.58. This represents a 7.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Trading of Trinity Industries

Several hedge funds have recently made changes to their positions in TRN. AQR Capital Management LLC lifted its stake in Trinity Industries by 33.8% in the 1st quarter. AQR Capital Management LLC now owns 44,772 shares of the transportation company’s stock valued at $1,244,000 after buying an additional 11,319 shares in the last quarter. Royal Bank of Canada raised its stake in Trinity Industries by 0.6% in the 1st quarter. Royal Bank of Canada now owns 73,775 shares of the transportation company’s stock valued at $2,069,000 after purchasing an additional 457 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Trinity Industries by 329.2% in the first quarter. Millennium Management LLC now owns 637,990 shares of the transportation company’s stock valued at $17,902,000 after buying an additional 489,348 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TRN shares. The Goldman Sachs Group cut their price target on Trinity Industries from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Susquehanna decreased their price objective on Trinity Industries from $35.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd.

About Trinity Industries

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.