Bank of New York Mellon Corp Decreases Stake in Trinity Industries, Inc. (NYSE:TRN)

Bank of New York Mellon Corp cut its stake in Trinity Industries, Inc. (NYSE:TRN - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 862,754 shares of the transportation company's stock after selling 33,393 shares during the quarter. Bank of New York Mellon Corp owned about 1.06% of Trinity Industries worth $24,209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Trinity Industries during the 4th quarter worth about $11,322,000. Swiss National Bank increased its position in shares of Trinity Industries by 1.5% during the 4th quarter. Swiss National Bank now owns 162,200 shares of the transportation company's stock worth $5,693,000 after purchasing an additional 2,400 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Trinity Industries during the 4th quarter worth about $268,000. Xponance Inc. acquired a new stake in shares of Trinity Industries during the 4th quarter worth about $208,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Trinity Industries during the 4th quarter worth about $54,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Trinity Industries Trading Down 0.9%

NYSE TRN traded down $0.24 during trading on Monday, hitting $26.04. The stock had a trading volume of 529,767 shares, compared to its average volume of 565,417. The company has a market capitalization of $2.13 billion, a PE ratio of 16.08 and a beta of 1.45. The company has a quick ratio of 0.87, a current ratio of 1.70 and a debt-to-equity ratio of 4.32. The firm has a 50 day moving average price of $26.67 and a 200 day moving average price of $29.39. Trinity Industries, Inc. has a twelve month low of $23.01 and a twelve month high of $39.83.

Trinity Industries (NYSE:TRN - Get Free Report) last released 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). The firm had revenue of $585.40 million during the quarter, compared to analyst estimates of $614.02 million. Trinity Industries had a net margin of 4.79% and a return on equity of 11.47%. The business's revenue was down 27.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, equities research analysts forecast that Trinity Industries, Inc. will post 1.65 earnings per share for the current year.

Trinity Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Tuesday, July 15th. Trinity Industries's payout ratio is presently 74.07%.

Analyst Ratings Changes

TRN has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on Trinity Industries from $36.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Susquehanna cut their price objective on 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 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.