State Street Corp Increases Stock Position in Trinity Industries, Inc. $TRN

Key Points

• State Street increased its Trinity Industries position by 6.3% in the second quarter, adding 245,434 shares to own 4.12 million shares, or 5.18% of the company. Institutional investors collectively hold 86.57% of TRN.
• Analyst sentiment is cautious: Trinity received one Buy and two Hold ratings, resulting in a consensus Hold rating and a $35 average price target.
• Trinity declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 4.4% yield; shares recently opened at $27.90, below their 52-week high of $38.31.

State Street Corp increased its holdings in Trinity Industries, Inc. (NYSE:TRN - Free Report) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,123,807 shares of the transportation company's stock after buying an additional 245,434 shares during the period. State Street Corp owned 5.18% of Trinity Industries worth $142,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TRN. Whittier Trust Co. raised its holdings in Trinity Industries by 880.7% in the 1st quarter. Whittier Trust Co. now owns 863 shares of the transportation company's stock valued at $28,000 after acquiring an additional 775 shares in the last quarter. Nykredit A S acquired a new stake in shares of Trinity Industries during the 2nd quarter worth $31,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Trinity Industries during the 2nd quarter worth $81,000. McIlrath & Eck LLC acquired a new stake in shares of Trinity Industries during the 1st quarter worth $123,000. Finally, Bayforest Capital Ltd bought a new position in shares of Trinity Industries in the second quarter worth $168,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Wall Street Analyst Weigh In

TRN has been the subject of a number of analyst reports. Wall Street Zen downgraded Trinity Industries from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Susquehanna decreased their target price on shares of Trinity Industries from $35.00 to $34.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings cut shares of Trinity Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $35.00.

Trinity Industries Trading Down 0.5%

Shares of TRN opened at $27.90 on Friday. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.91 and a current ratio of 1.89. Trinity Industries, Inc. has a 52-week low of $24.76 and a 52-week high of $38.31. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 6.72 and a beta of 1.35. The business's fifty day moving average is $30.61 and its 200-day moving average is $32.40.

Trinity Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, October 15th. Trinity Industries's dividend payout ratio (DPR) is presently 29.88%.

Insider Activity

In related news, EVP Kevin Poet sold 17,000 shares of Trinity Industries stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $29.55, for a total transaction of $502,350.00. Following the sale, the executive vice president directly owned 69,225 shares of the company's stock, valued at approximately $2,045,598.75. The trade was a 19.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.10% of the company's stock.

Trinity Industries Company Profile

Trinity Industries, Inc is an industrial company focused primarily on the North American rail transportation market. Through its TrinityRail business, the company designs, manufactures, sells, leases and manages a broad range of freight railcars, including covered hopper cars, tank cars, gondolas, boxcars and other specialized equipment.

TrinityRail also provides railcar parts and components, maintenance and repair services, engineering and manufacturing support, and fleet-management services.

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