Emerald Advisers Inc. PA purchased a new stake in Trinity Industries Inc (NYSE:TRN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,027 shares of the transportation company’s stock, valued at approximately $863,000.
A number of other large investors also recently made changes to their positions in TRN. Cubist Systematic Strategies LLC lifted its holdings in Trinity Industries by 366.0% in the second quarter. Cubist Systematic Strategies LLC now owns 12,560 shares of the transportation company’s stock valued at $352,000 after acquiring an additional 9,865 shares during the period. Caxton Associates LP lifted its holdings in Trinity Industries by 10.6% in the second quarter. Caxton Associates LP now owns 13,600 shares of the transportation company’s stock valued at $381,000 after acquiring an additional 1,300 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Trinity Industries by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 223,993 shares of the transportation company’s stock valued at $6,279,000 after acquiring an additional 3,816 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Trinity Industries by 7.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,037 shares of the transportation company’s stock valued at $281,000 after acquiring an additional 704 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in Trinity Industries by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 62,738 shares of the transportation company’s stock valued at $1,758,000 after acquiring an additional 675 shares during the period. 83.19% of the stock is owned by institutional investors.
In related news, SVP William A. Mcwhirter sold 20,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $36.90, for a total value of $738,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,339 shares of the company’s stock, valued at approximately $7,060,409.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Valueact Capital Master Fund, acquired 425,000 shares of Trinity Industries stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $32.88 per share, with a total value of $13,974,000.00. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
Trinity Industries declared that its board has approved a stock buyback plan on Tuesday, December 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, January 11th. Trinity Industries’s payout ratio is 34.67%.
TRN has been the subject of a number of analyst reports. UBS Group raised Trinity Industries from a “neutral” rating to a “positive” rating in a report on Monday, November 6th. Stifel Nicolaus reissued a “buy” rating and issued a $43.00 price target on shares of Trinity Industries in a report on Friday, December 22nd. ValuEngine raised Trinity Industries from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded Trinity Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Cowen boosted their price target on Trinity Industries from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.38.
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Trinity Industries 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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