Stock Traders Buy Large Volume of Put Options on Trinity Industries (NYSE:TRN)

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Trinity Industries Inc (NYSE:TRN) was the target of some unusual options trading activity on Monday. Stock traders acquired 1,497 put options on the company. This represents an increase of 993% compared to the average volume of 137 put options.

TRN stock opened at $18.51 on Wednesday. The firm has a 50 day moving average of $18.44 and a 200 day moving average of $19.75. The stock has a market capitalization of $2.34 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. The company has a quick ratio of 0.84, a current ratio of 1.91 and a debt-to-equity ratio of 1.82. Trinity Industries has a 52 week low of $16.03 and a 52 week high of $36.28.

Trinity Industries (NYSE:TRN) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $736.00 million during the quarter, compared to analyst estimates of $796.00 million. Trinity Industries had a return on equity of 5.40% and a net margin of 4.06%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, equities research analysts expect that Trinity Industries will post 1.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Friday, October 11th. Trinity Industries’s dividend payout ratio (DPR) is presently 85.00%.

In other news, Director Brandon B. Boze purchased 108,796 shares of the stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $19.84 per share, for a total transaction of $2,158,512.64. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brandon B. Boze purchased 250,000 shares of the stock in a transaction dated Monday, July 29th. The stock was purchased at an average price of $18.81 per share, for a total transaction of $4,702,500.00. The disclosure for this purchase can be found here. 18.50% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. FTB Advisors Inc. purchased a new position in Trinity Industries during the 2nd quarter worth approximately $42,000. Point72 Hong Kong Ltd purchased a new position in shares of Trinity Industries during the 2nd quarter valued at approximately $119,000. Holocene Advisors LP purchased a new position in shares of Trinity Industries during the 2nd quarter valued at approximately $204,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Trinity Industries during the 2nd quarter valued at approximately $212,000. Finally, Stephens Inc. AR increased its holdings in shares of Trinity Industries by 6.2% during the 3rd quarter. Stephens Inc. AR now owns 11,162 shares of the transportation company’s stock valued at $220,000 after purchasing an additional 656 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

TRN has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Trinity Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Buckingham Research lowered their target price on shares of Trinity Industries from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.78.

Trinity Industries Company Profile

Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.

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