Mackenzie Financial Corp Purchases Shares of 10,732 Trinity Industries, Inc. (NYSE:TRN)

Key Points

• Mackenzie Financial Corp has invested approximately $301,000 in Trinity Industries, Inc., acquiring 10,732 shares in the transportation company.
• Trinity Industries reported earnings of $0.19 per share for the latest quarter, missing the consensus estimate of $0.31, with revenue down 39.8% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.30, resulting in a dividend yield of 4.4%, despite a payout ratio of 105.26%.

Mackenzie Financial Corp acquired a new position in Trinity Industries, Inc. (NYSE:TRN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,732 shares of the transportation company's stock, valued at approximately $301,000.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Trinity Industries by 9.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,192 shares of the transportation company's stock valued at $623,000 after purchasing an additional 1,994 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Trinity Industries in the 1st quarter valued at $277,000. Jennison Associates LLC raised its stake in shares of Trinity Industries by 2.0% in the 1st quarter. Jennison Associates LLC now owns 3,661,394 shares of the transportation company's stock valued at $102,739,000 after buying an additional 73,160 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Trinity Industries in the 1st quarter worth about $1,930,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Trinity Industries by 22.7% in the 1st quarter. Victory Capital Management Inc. now owns 386,248 shares of the transportation company's stock worth $10,838,000 after purchasing an additional 71,420 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Trinity Industries Trading Up 0.4%

Shares of NYSE:TRN traded up $0.13 during midday trading on Wednesday, hitting $28.82. 163,948 shares of the stock were exchanged, compared to its average volume of 626,530. The business's 50-day moving average price is $26.70 and its 200 day moving average price is $28.15. Trinity Industries, Inc. has a 12 month low of $22.38 and a 12 month high of $39.83. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 25.26 and a beta of 1.49. The company has a debt-to-equity ratio of 4.66, a quick ratio of 1.01 and a current ratio of 1.96.

Trinity Industries (NYSE:TRN - Get Free Report) last announced its earnings results on Thursday, July 31st. The transportation company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). Trinity Industries had a net margin of 3.83% and a return on equity of 8.49%. The company had revenue of $506.20 million during the quarter, compared to the consensus estimate of $589.96 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business's revenue was down 39.8% on a year-over-year basis. Analysts predict that Trinity Industries, Inc. will post 1.65 earnings per share for the current year.

Trinity Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, July 15th. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. Trinity Industries's dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

A number of brokerages have commented on TRN. Susquehanna decreased their price objective on shares of Trinity Industries from $26.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Trinity Industries from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, The Goldman Sachs Group cut their target price 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.

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.