Bank of America Corp DE Sells 46,680 Shares of Trinity Industries, Inc. (NYSE:TRN)

Bank of America Corp DE decreased its stake in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 279,331 shares of the transportation company's stock after selling 46,680 shares during the quarter. Bank of America Corp DE owned about 0.34% of Trinity Industries worth $9,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Wellington Shields Capital Management LLC acquired a new stake in Trinity Industries in the fourth quarter worth $35,000. Millstone Evans Group LLC bought a new position in shares of Trinity Industries during the 4th quarter worth about $54,000. Smartleaf Asset Management LLC grew its stake in shares of Trinity Industries by 87.1% in 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 during the period. Jones Financial Companies Lllp grew its stake in shares of Trinity Industries by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,997 shares of the transportation company's stock valued at $105,000 after buying an additional 398 shares during the period. Finally, KBC Group NV increased its position in Trinity Industries by 71.6% in the 4th quarter. KBC Group NV now owns 3,952 shares of the transportation company's stock valued at $139,000 after buying an additional 1,649 shares in the last quarter. Institutional investors own 86.57% of the company's stock.

Insiders Place Their Bets

In related news, EVP Gregory B. Mitchell sold 9,286 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $31.02, for a total transaction of $288,051.72. Following the completion of the sale, the executive vice president now directly owns 111,879 shares of the company's stock, valued at approximately $3,470,486.58. This trade represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

TRN has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective 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 reduced their price target on shares of Trinity Industries from $35.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd.

Trinity Industries Stock Up 0.6%

Shares of TRN traded up $0.16 on Thursday, reaching $25.73. The company's stock had a trading volume of 295,888 shares, compared to its average volume of 571,243. Trinity Industries, Inc. has a twelve month low of $23.01 and a twelve month high of $39.83. The stock has a market capitalization of $2.10 billion, a PE ratio of 15.69 and a beta of 1.47. The company has a current ratio of 1.80, a quick ratio of 1.08 and a debt-to-equity ratio of 4.35. The firm has a fifty day moving average of $25.91 and a 200-day moving average of $31.98.

Trinity Industries (NYSE:TRN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $585.40 million during the quarter, compared to analysts' expectations of $614.02 million. Trinity Industries had a return on equity of 11.78% and a net margin of 4.49%. The business's revenue for the quarter was down 27.7% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Equities analysts predict that Trinity Industries, Inc. will post 1.65 EPS for the current year.

Trinity Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Tuesday, July 15th. Trinity Industries's dividend payout ratio is 74.07%.

Trinity Industries 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.