Trinity Industries Inc. (TRN) Sees Strong Trading Volume
Shares of Trinity Industries Inc. (NYSE:TRN) saw unusually-high trading volume on Monday . Approximately 2,044,885 shares were traded during trading, a decline of 3% from the previous session’s volume of 2,110,086 shares.The stock last traded at $20.86 and had previously closed at $20.65.
TRN has been the subject of a number of analyst reports. Axiom Securities restated a “sell” rating on shares of Trinity Industries in a research note on Tuesday, April 12th. Vetr lowered shares of Trinity Industries from a “hold” rating to a “strong sell” rating and set a $16.00 price objective for the company. in a research note on Tuesday, April 12th. Stifel Nicolaus lowered shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. They noted that the move was a valuation call. Cowen and Company reiterated an “outperform” rating and issued a $22.00 price target (up from $21.00) on shares of Trinity Industries in a research note on Monday, April 25th. Finally, Zacks Investment Research upgraded shares of Trinity Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, May 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of €19.14 ($21.27).
The stock has a 50-day moving average price of $18.93 and a 200-day moving average price of $19.01. The firm has a market cap of $3.16 billion and a P/E ratio of 4.56.
Trinity Industries (NYSE:TRN) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.06. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business posted $1.13 earnings per share. Trinity Industries’s revenue for the quarter was down 27.0% compared to the same quarter last year. On average, analysts expect that Trinity Industries Inc. will post $2.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, July 13th.
Other hedge funds have added to or reduced their stakes in the company. Trexquant Investment LP purchased a new stake in Trinity Industries during the fourth quarter valued at approximately $1,081,000. GSA Capital Partners LLP purchased a new stake in Trinity Industries during the fourth quarter valued at approximately $1,105,000. Liberty Mutual Group Asset Management Inc. raised its stake in Trinity Industries by 51.2% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 99,550 shares of the company’s stock valued at $2,392,000 after buying an additional 33,715 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Trinity Industries by 106.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 103,321 shares of the company’s stock valued at $2,482,000 after buying an additional 53,340 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Trinity Industries by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 103,766 shares of the company’s stock valued at $2,492,000 after buying an additional 573 shares during the last quarter.
Trinity Industries, Inc is a diversified industrial company that owns a range of businesses providing products and services to the energy, transportation, chemical and construction sectors. The Company’s products and services include railcars and railcar parts; parts and steel components; the leasing, management and maintenance of railcars; highway products; aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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