McElhenny Sheffield Capital Management LLC purchased a new position in Trinity Industries, Inc. (NYSE:TRN – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the transportation company’s stock, valued at approximately $118,000.
Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in Trinity Industries by 1.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 27,000 shares of the transportation company’s stock valued at $576,000 after acquiring an additional 426 shares during the last quarter. New York State Common Retirement Fund increased its stake in Trinity Industries by 0.9% in the third quarter. New York State Common Retirement Fund now owns 60,576 shares of the transportation company’s stock valued at $1,293,000 after acquiring an additional 558 shares during the last quarter. Creative Planning increased its stake in Trinity Industries by 5.4% in the third quarter. Creative Planning now owns 12,412 shares of the transportation company’s stock valued at $265,000 after acquiring an additional 633 shares during the last quarter. Credit Suisse AG increased its stake in Trinity Industries by 1.4% in the second quarter. Credit Suisse AG now owns 64,146 shares of the transportation company’s stock valued at $1,553,000 after acquiring an additional 867 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Trinity Industries by 11.1% in the second quarter. Captrust Financial Advisors now owns 8,706 shares of the transportation company’s stock valued at $211,000 after acquiring an additional 867 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.
Trinity Industries Stock Down 4.1 %
NYSE TRN opened at $22.06 on Friday. The company has a 50-day simple moving average of $27.05 and a two-hundred day simple moving average of $26.93. Trinity Industries, Inc. has a 12-month low of $20.94 and a 12-month high of $35.35. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 30.64 and a beta of 1.40.
Trinity Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.71%. Trinity Industries’s dividend payout ratio is currently 144.44%.
Trinity Industries announced that its board has authorized a share buyback program on Thursday, December 8th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of research firms recently commented on TRN. Wells Fargo & Company reduced their target price on Trinity Industries from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 22nd. StockNews.com began coverage on Trinity Industries in a research note on Thursday. They issued a “hold” rating on the stock. Stephens reduced their target price on Trinity Industries from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. Finally, Susquehanna cut their price target on shares of Trinity Industries from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.00.
Insider Transactions at Trinity Industries
In other news, CEO Jean Savage bought 4,485 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was bought at an average cost of $22.29 per share, for a total transaction of $99,970.65. Following the completion of the acquisition, the chief executive officer now owns 189,876 shares in the company, valued at approximately $4,232,336.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently owned by company insiders.
Trinity Industries Profile
Trinity Industries, Inc engages in the provision of rail transportation products and services in North America. It operates through the following segments: Railcar Leasing and Management Services Group, Rail Products Group and All Other. The Railcar Leasing and Management Services Group segment provides railcar industry services.
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