Fifth Third Bancorp Increases Stock Position in Trinity Industries, Inc. (NYSE:TRN)

Fifth Third Bancorp raised its position in shares of Trinity Industries, Inc. (NYSE:TRN - Free Report) by 3,212.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,023 shares of the transportation company's stock after buying an additional 11,660 shares during the period. Fifth Third Bancorp's holdings in Trinity Industries were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRN. Wealthfront Advisers LLC purchased a new stake in shares of Trinity Industries in the 4th quarter worth about $104,136,000. American Century Companies Inc. lifted its position in shares of Trinity Industries by 25.6% in the 4th quarter. American Century Companies Inc. now owns 2,187,366 shares of the transportation company's stock worth $76,777,000 after purchasing an additional 446,142 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Trinity Industries in the 4th quarter worth about $14,532,000. Raymond James Financial Inc. purchased a new stake in shares of Trinity Industries in the 4th quarter worth about $11,322,000. Finally, Northern Trust Corp lifted its position in shares of Trinity Industries by 33.6% in the 4th quarter. Northern Trust Corp now owns 1,172,036 shares of the transportation company's stock worth $41,138,000 after purchasing an additional 295,054 shares during the period. Hedge funds and other institutional investors own 86.57% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Susquehanna dropped their target price 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. The Goldman Sachs Group decreased their price target on shares of Trinity Industries from $36.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

Trinity Industries Stock Up 1.5%

Shares of Trinity Industries stock opened at $26.22 on Thursday. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.70 and a quick ratio of 0.87. The company has a 50-day moving average of $25.61 and a 200 day moving average of $30.86. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 16.18 and a beta of 1.46. Trinity Industries, Inc. has a 1 year low of $23.01 and a 1 year high of $39.83.

Trinity Industries (NYSE:TRN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The transportation company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $585.40 million during the quarter, compared to the consensus estimate of $614.02 million. Trinity Industries had a return on equity of 11.47% and a net margin of 4.79%. The firm's revenue was down 27.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Trinity Industries, Inc. will post 1.65 earnings per share for the current fiscal year.

Trinity Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $1.20 annualized dividend and a dividend yield of 4.58%. Trinity Industries's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.