Alyeska Investment Group L.P. Cuts Stake in Trinity Industries, Inc. (TRN)
Alyeska Investment Group L.P. decreased its position in shares of Trinity Industries, Inc. (NYSE:TRN) by 83.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,131 shares of the transportation company’s stock after selling 304,711 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Trinity Industries were worth $1,918,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR grew its stake in shares of Trinity Industries by 3.0% during the 2nd quarter. Stephens Inc. AR now owns 9,683 shares of the transportation company’s stock worth $271,000 after acquiring an additional 279 shares during the period. American Asset Management Inc. grew its stake in shares of Trinity Industries by 3.4% during the 2nd quarter. American Asset Management Inc. now owns 9,397 shares of the transportation company’s stock worth $263,000 after acquiring an additional 310 shares during the period. Utah Retirement Systems grew its stake in shares of Trinity Industries by 1.5% during the 2nd quarter. Utah Retirement Systems now owns 27,528 shares of the transportation company’s stock worth $771,000 after acquiring an additional 400 shares during the period. First Mercantile Trust Co. grew its stake in shares of Trinity Industries by 10.9% during the 2nd quarter. First Mercantile Trust Co. now owns 5,800 shares of the transportation company’s stock worth $163,000 after acquiring an additional 570 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Trinity Industries by 0.7% during the 2nd quarter. Prudential Financial Inc. now owns 94,478 shares of the transportation company’s stock worth $2,648,000 after acquiring an additional 660 shares during the period. Institutional investors own 82.46% of the company’s stock.
In other Trinity Industries news, major shareholder Valueact Capital Master Fund, purchased 13,687 shares of the stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $31.98 per share, with a total value of $437,710.26. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Holdings L.P. Valueact purchased 125,000 shares of the stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $32.89 per share, for a total transaction of $4,111,250.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,722,237 shares of company stock worth $55,164,869 in the last three months. 2.00% of the stock is currently owned by insiders.
TRN has been the subject of several research reports. ValuEngine upgraded Trinity Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cowen increased their price target on Trinity Industries from $36.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Investment Research downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research note on Saturday, September 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $42.00 price target (up previously from $31.00) on shares of Trinity Industries in a research note on Sunday, October 1st. Finally, UBS raised Trinity Industries from a “neutral” rating to a “positive” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $35.00.
Shares of Trinity Industries, Inc. (NYSE TRN) traded up $0.48 on Thursday, reaching $37.36. The company had a trading volume of 3,417,500 shares, compared to its average volume of 1,311,922. The stock has a market cap of $5,670.00, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.48 and a beta of 2.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.70 and a quick ratio of 2.62. Trinity Industries, Inc. has a twelve month low of $25.01 and a twelve month high of $38.25.
Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $973.60 million for the quarter, compared to analysts’ expectations of $951.60 million. Trinity Industries had a return on equity of 5.32% and a net margin of 5.97%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. research analysts predict that Trinity Industries, Inc. will post 1.49 earnings per share for the current year.
Trinity Industries announced that its board has authorized a stock repurchase plan on Tuesday, December 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, January 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.39%. Trinity Industries’s dividend payout ratio (DPR) is 34.67%.
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About Trinity Industries
Trinity Industries, Inc is a diversified industrial company that owns businesses providing products and services to the energy, chemical, agriculture, transportation 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; construction aggregates; inland barges; structural wind towers; steel utility structures; storage and distribution containers, and trench shields and shoring products.
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