Trinity Industries (NYSE:TRN) Shares Down 8.7% – Here’s What Happened

Shares of Trinity Industries, Inc. (NYSE:TRN) were down 8.7% on Thursday . The stock traded as low as $30.50 and last traded at $31.25. Approximately 736,524 shares changed hands during trading, an increase of 49% from the average daily volume of 493,549 shares. The stock had previously closed at $34.21.

Analyst Ratings Changes

Several research analysts have recently weighed in on TRN shares. The Goldman Sachs Group started coverage on Trinity Industries in a research note on Monday, November 18th. They set a “neutral” rating and a $39.00 price target for the company. StockNews.com downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Trinity Industries Trading Down 8.6 %

The stock has a market cap of $2.57 billion, a P/E ratio of 15.26 and a beta of 1.40. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.08 and a current ratio of 2.00. The stock has a 50-day moving average price of $36.52 and a 200-day moving average price of $35.28.

Trinity Industries (NYSE:TRN) last issued its quarterly earnings results on Thursday, February 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Trinity Industries had a return on equity of 14.57% and a net margin of 5.31%. On average, equities research analysts expect that Trinity Industries, Inc. will post 1.75 EPS for the current year.

Trinity Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, January 15th. This is an increase from Trinity Industries’s previous quarterly dividend of $0.28. Trinity Industries’s dividend payout ratio (DPR) is 58.54%.

Hedge Funds Weigh In On Trinity Industries

A number of large investors have recently modified their holdings of TRN. Wellington Shields Capital Management LLC purchased a new position in shares of Trinity Industries during the 4th quarter valued at about $35,000. Smartleaf Asset Management LLC raised its holdings in shares of Trinity Industries by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,532 shares of the transportation company’s stock valued at $54,000 after buying an additional 713 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Trinity Industries during the 4th quarter valued at about $54,000. Jones Financial Companies Lllp increased its stake in Trinity Industries by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,997 shares of the transportation company’s stock worth $105,000 after purchasing an additional 398 shares during the period. Finally, KBC Group NV increased its stake in Trinity Industries by 71.6% in the 4th quarter. KBC Group NV now owns 3,952 shares of the transportation company’s stock worth $139,000 after purchasing an additional 1,649 shares during the period. 86.57% of the stock is owned by hedge funds and other institutional investors.

Trinity Industries Company Profile

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.