Wellington Shields Capital Management LLC bought a new stake in shares of Trinity Industries Inc (NYSE:TRN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,600 shares of the transportation company’s stock, valued at approximately $210,000.
Other large investors have also recently made changes to their positions in the company. ValueAct Holdings L.P. raised its stake in Trinity Industries by 10.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 17,255,115 shares of the transportation company’s stock valued at $550,438,000 after purchasing an additional 1,672,510 shares during the period. Cipher Capital LP acquired a new stake in Trinity Industries during the 3rd quarter valued at $816,000. Chesapeake Asset Management LLC raised its stake in Trinity Industries by 95.9% during the 3rd quarter. Chesapeake Asset Management LLC now owns 54,497 shares of the transportation company’s stock valued at $1,738,000 after purchasing an additional 26,682 shares during the period. Zuckerman Investment Group LLC raised its stake in Trinity Industries by 111.4% during the 3rd quarter. Zuckerman Investment Group LLC now owns 329,933 shares of the transportation company’s stock valued at $10,525,000 after purchasing an additional 173,883 shares during the period. Finally, James Investment Research Inc. raised its stake in Trinity Industries by 15.2% during the 4th quarter. James Investment Research Inc. now owns 413,366 shares of the transportation company’s stock valued at $15,485,000 after purchasing an additional 54,610 shares during the period. 83.19% of the stock is currently owned by institutional investors.
In other news, SVP William A. Mcwhirter sold 20,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $36.90, for a total value of $738,000.00. Following the transaction, the senior vice president now directly owns 191,339 shares of the company’s stock, valued at $7,060,409.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Valueact Capital Master Fund, purchased 425,000 shares of the company’s stock in a transaction dated 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 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 authorized a share buyback program on Tuesday, December 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Thursday, January 11th. Trinity Industries’s dividend payout ratio (DPR) is presently 34.67%.
Several brokerages have issued reports on TRN. Stifel Nicolaus set a $40.00 target price on shares of Trinity Industries and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of Trinity Industries from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Saturday, February 3rd. ValuEngine raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Cowen reissued a “buy” rating and set a $39.00 target price (up from $31.00) on shares of Trinity Industries in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Finally, UBS Group raised shares of Trinity Industries from a “neutral” rating to a “positive” rating in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.38.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2018/02/10/wellington-shields-capital-management-llc-buys-new-position-in-trinity-industries-inc-trn.html.
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.
Want to see what other hedge funds are holding TRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trinity Industries Inc (NYSE:TRN).
Receive News & Ratings for Trinity Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinity Industries and related companies with MarketBeat.com's FREE daily email newsletter.