Trinity Industries, Inc. (NYSE:TRN) Position Lowered by Bank of America Corp DE

Bank of America Corp DE reduced its holdings 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 disclosure 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 0.34% of Trinity Industries worth $9,805,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Wealthfront Advisers LLC acquired a new position in shares of Trinity Industries during the 4th quarter valued at $104,136,000. American Century Companies Inc. raised its position in Trinity Industries by 25.6% in the fourth quarter. American Century Companies Inc. now owns 2,187,366 shares of the transportation company's stock valued at $76,777,000 after purchasing an additional 446,142 shares during the period. Granite Investment Partners LLC purchased a new position in Trinity Industries in the fourth quarter valued at about $14,532,000. Raymond James Financial Inc. acquired a new position in shares of Trinity Industries during the fourth quarter worth about $11,322,000. Finally, Northern Trust Corp boosted its position in shares of Trinity Industries by 33.6% in the fourth quarter. Northern Trust Corp now owns 1,172,036 shares of the transportation company's stock worth $41,138,000 after buying an additional 295,054 shares during the period. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trinity Industries

In other news, EVP Gregory B. Mitchell sold 9,286 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Trinity Industries Stock Up 2.4%

TRN traded up $0.61 during trading hours on Tuesday, reaching $25.97. 339,247 shares of the stock traded hands, compared to its average volume of 572,016. Trinity Industries, Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $39.83. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 15.84 and a beta of 1.47. The company has a debt-to-equity ratio of 4.35, a current ratio of 1.80 and a quick ratio of 1.08. The firm's fifty day simple moving average is $26.14 and its two-hundred day simple moving average is $32.15.

Trinity Industries (NYSE:TRN - Get Free Report) last announced its earnings results on Thursday, May 1st. The transportation company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). Trinity Industries had a net margin of 4.49% and a return on equity of 11.78%. The business had revenue of $585.40 million for the quarter, compared to analyst estimates of $614.02 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm's revenue was down 27.7% on a year-over-year basis. As a group, analysts forecast that Trinity Industries, Inc. will post 1.65 earnings per share for the current fiscal year.

Trinity Industries Announces Dividend

The firm 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. The ex-dividend date is Tuesday, July 15th. This represents a $1.20 annualized dividend and a yield of 4.62%. Trinity Industries's dividend payout ratio is presently 74.07%.

Analysts Set New Price Targets

TRN has been the topic of several analyst reports. Susquehanna dropped their target price on Trinity Industries from $35.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price target on Trinity Industries from $36.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, April 17th.

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.