Trinity Industries (TRN) Shares Gap Up After Dividend Announcement

Trinity Industries, Inc. (NYSE:TRN)’s share price gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $34.59, but opened at $35.80. Trinity Industries shares last traded at $36.88, with a volume of 6407800 shares trading hands.

The newly announced dividend which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, January 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.43%. Trinity Industries’s payout ratio is currently 34.67%.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, August 17th. BidaskClub raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Cowen reaffirmed a “buy” rating and issued a $31.00 price target on shares of Trinity Industries in a report on Monday, August 28th. ValuEngine raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Citigroup raised shares of Trinity Industries from a “neutral” rating to a “buy” rating and cut their price target for the company from $45.00 to $36.00 in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Trinity Industries presently has a consensus rating of “Buy” and an average price target of $35.00.

The company has a current ratio of 3.70, a quick ratio of 2.62 and a debt-to-equity ratio of 0.75. The stock has a market cap of $5,670.00, a price-to-earnings ratio of 24.59, a PEG ratio of 2.48 and a beta of 2.26.

Trinity Industries (NYSE:TRN) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.43 earnings per share for the quarter, beating the 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 firm had revenue of $973.60 million during the quarter, compared to analyst estimates of $951.60 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. sell-side analysts forecast that Trinity Industries, Inc. will post 1.49 EPS for the current fiscal year.

Trinity Industries announced that its board has authorized a stock repurchase plan on Tuesday, December 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other Trinity Industries news, major shareholder Valueact Capital Master Fund, bought 13,687 shares of the stock in a transaction on Friday, November 3rd. The stock was purchased at an average price of $31.98 per share, for a total transaction of $437,710.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Valueact bought 125,000 shares of the stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $32.89 per share, with a total value of $4,111,250.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,722,237 shares of company stock valued at $55,164,869. 2.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in TRN. Stephens Inc. AR grew its position in shares of Trinity Industries by 3.0% during the second quarter. Stephens Inc. AR now owns 9,683 shares of the transportation company’s stock worth $271,000 after acquiring an additional 279 shares during the last quarter. American Asset Management Inc. grew its position in shares of Trinity Industries by 3.4% during the second quarter. American Asset Management Inc. now owns 9,397 shares of the transportation company’s stock worth $263,000 after acquiring an additional 310 shares during the last quarter. Utah Retirement Systems grew its position in shares of Trinity Industries by 1.5% during the second quarter. Utah Retirement Systems now owns 27,528 shares of the transportation company’s stock worth $771,000 after acquiring an additional 400 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of Trinity Industries by 10.9% during the second quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock worth $163,000 after acquiring an additional 570 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Trinity Industries by 0.7% during the second quarter. Prudential Financial Inc. now owns 94,478 shares of the transportation company’s stock worth $2,648,000 after acquiring an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

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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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