Bank of America Corp DE Buys Shares of 1,000,110 Trinity Industries, Inc. $TRN

Key Points

• Bank of America purchased 1,000,110 Trinity Industries shares worth approximately $34.6 million, acquiring a 1.26% stake. Institutional investors collectively own 86.57% of the company.
• Analyst sentiment is cautious: Trinity has an average rating of “Hold” and an average price target of $35, following recent downgrades and price-target reductions.
• Trinity announced a quarterly dividend of $0.31 per share, equal to $1.24 annually and a 4.5% yield. The stock opened at $27.83, near the lower portion of its one-year trading range.

Bank of America Corp DE purchased a new stake in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,000,110 shares of the transportation company's stock, valued at approximately $34,584,000. Bank of America Corp DE owned 1.26% of Trinity Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRN. Hsbc Holdings PLC purchased a new stake in shares of Trinity Industries during the 2nd quarter valued at about $1,346,000. Deutsche Bank AG boosted its holdings in shares of Trinity Industries by 68.2% in the second quarter. Deutsche Bank AG now owns 120,067 shares of the transportation company's stock worth $4,152,000 after buying an additional 48,691 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Trinity Industries during the first quarter valued at approximately $6,710,000. BlackRock Inc. increased its holdings in Trinity Industries by 2.9% during the second quarter. BlackRock Inc. now owns 13,356,707 shares of the transportation company's stock valued at $461,875,000 after buying an additional 370,390 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Trinity Industries during the second quarter valued at approximately $1,256,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Trinity Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Susquehanna reduced their price objective on Trinity Industries from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Finally, Wall Street Zen cut Trinity Industries from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $35.00.

Trinity Industries Stock Down 0.2%

Shares of TRN stock opened at $27.83 on Wednesday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 6.71 and a beta of 1.35. Trinity Industries, Inc. has a one year low of $24.76 and a one year high of $38.31. The company's fifty day moving average price is $30.96 and its 200-day moving average price is $32.47. 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 business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, October 15th. Trinity Industries's payout ratio is 29.88%.

Insider Buying and Selling at Trinity Industries

In related news, EVP Kevin Poet sold 17,000 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $29.55, for a total transaction of $502,350.00. Following the completion of the transaction, the executive vice president owned 69,225 shares in the company, valued at approximately $2,045,598.75. This represents a 19.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.10% of the company's stock.

About Trinity Industries

Trinity Industries, Inc is an industrial company focused primarily on the North American rail transportation market. Through its TrinityRail business, the company designs, manufactures, sells, leases and manages a broad range of freight railcars, including covered hopper cars, tank cars, gondolas, boxcars and other specialized equipment.

TrinityRail also provides railcar parts and components, maintenance and repair services, engineering and manufacturing support, and fleet-management services.

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