Millennium Management LLC Lowers Stock Position in Trinity Industries, Inc. (NYSE:TRN)

Millennium Management LLC lowered its holdings in Trinity Industries, Inc. (NYSE:TRN - Free Report) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 148,642 shares of the transportation company's stock after selling 357,641 shares during the quarter. Millennium Management LLC owned approximately 0.18% of Trinity Industries worth $5,217,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TRN. Wellington Shields Capital Management LLC bought a new stake in shares of Trinity Industries in the 4th quarter valued at about $35,000. Smartleaf Asset Management LLC raised its holdings in shares of Trinity Industries by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,532 shares of the transportation company's stock valued at $54,000 after purchasing an additional 713 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Trinity Industries in the 4th quarter valued at about $54,000. Jones Financial Companies Lllp raised its holdings in shares of Trinity Industries by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,997 shares of the transportation company's stock valued at $105,000 after purchasing an additional 398 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Trinity Industries by 71.6% in the 4th quarter. KBC Group NV now owns 3,952 shares of the transportation company's stock valued at $139,000 after purchasing an additional 1,649 shares in the last quarter. Institutional investors own 86.57% of the company's stock.

Insider Activity

In related news, EVP Gregory B. Mitchell sold 9,286 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 111,879 shares of the company's stock, valued at approximately $3,470,486.58. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Susquehanna reduced their price objective on shares of Trinity Industries from $35.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their price objective 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 Performance

Shares of TRN stock remained flat at $25.74 during trading hours on Friday. 524,621 shares of the stock traded hands, compared to its average volume of 571,289. The stock has a 50-day simple moving average of $25.84 and a 200 day simple moving average of $31.89. The stock has a market cap of $2.10 billion, a PE ratio of 15.70 and a beta of 1.47. The company has a debt-to-equity ratio of 4.35, a quick ratio of 1.08 and a current ratio of 1.80. Trinity Industries, Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $39.83.

Trinity Industries (NYSE:TRN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The transportation company reported $0.29 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 analysts' expectations of $614.02 million. Trinity Industries had a net margin of 4.49% and a return on equity of 11.78%. The firm's revenue was down 27.7% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, analysts anticipate 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. Stockholders of record on Tuesday, July 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Tuesday, July 15th. Trinity Industries's dividend payout ratio (DPR) is currently 74.07%.

About Trinity Industries

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.