Hodges Capital Management Inc. Trims Stake in Trinity Industries Inc (TRN)

Hodges Capital Management Inc. cut its stake in shares of Trinity Industries Inc (NYSE:TRN) by 46.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 310,841 shares of the transportation company’s stock after selling 264,991 shares during the quarter. Hodges Capital Management Inc.’s holdings in Trinity Industries were worth $11,644,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cigna Investments Inc. New purchased a new position in shares of Trinity Industries during the fourth quarter worth approximately $202,000. Sippican Capital Advisors bought a new position in shares of Trinity Industries during the third quarter valued at approximately $211,000. Griffin Asset Management Inc. bought a new position in shares of Trinity Industries during the third quarter valued at approximately $213,000. Commerce Bank bought a new position in shares of Trinity Industries during the third quarter valued at approximately $255,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Trinity Industries during the fourth quarter valued at approximately $333,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on TRN. Zacks Investment Research downgraded shares of Trinity Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Susquehanna Bancshares upgraded shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. Stifel Nicolaus dropped their price objective on shares of Trinity Industries from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. ValuEngine upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Seaport Global Securities began coverage on shares of Trinity Industries in a research note on Thursday, January 4th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.75.

In other news, major shareholder Valueact Capital Master Fund, bought 425,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was bought at an average cost of $32.88 per share, for a total transaction of $13,974,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings L.P. Valueact bought 125,000 shares of the stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $32.89 per share, with a total value of $4,111,250.00. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

Shares of Trinity Industries Inc (NYSE TRN) opened at $32.46 on Thursday. The firm has a market cap of $4,970.91, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.35 and a beta of 2.07. Trinity Industries Inc has a one year low of $25.01 and a one year high of $38.25. The company has a quick ratio of 2.62, a current ratio of 3.70 and a debt-to-equity ratio of 0.75.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were paid a $0.13 dividend. The ex-dividend date was Thursday, January 11th. This represents a $0.52 annualized dividend and a yield of 1.60%. Trinity Industries’s dividend payout ratio (DPR) is 34.67%.

Trinity Industries declared that its board has initiated a share buyback program on Tuesday, December 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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Trinity Industries Company Profile

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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Institutional Ownership by Quarter for Trinity Industries (NYSE:TRN)

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