Trinity Industries Inc (NYSE:TRN) Sees Significant Decline in Short Interest

Trinity Industries Inc (NYSE:TRN) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 11,391,800 shares, a decline of 6.3% from the June 15th total of 12,160,900 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 9.7 days. Approximately 8.8% of the company’s shares are sold short.

In other Trinity Industries news, insider Brian D. Madison sold 2,157 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.90, for a total value of $45,081.30. Following the completion of the sale, the insider now directly owns 58,345 shares of the company’s stock, valued at $1,219,410.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.50% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Trinity Industries in the fourth quarter worth $29,267,000. Jennison Associates LLC increased its stake in shares of Trinity Industries by 43.9% in the first quarter. Jennison Associates LLC now owns 3,239,513 shares of the transportation company’s stock worth $70,395,000 after purchasing an additional 988,636 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Trinity Industries by 29.5% in the first quarter. Janus Henderson Group PLC now owns 3,326,034 shares of the transportation company’s stock worth $72,275,000 after purchasing an additional 756,977 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Trinity Industries by 21.1% in the first quarter. Thompson Siegel & Walmsley LLC now owns 3,582,884 shares of the transportation company’s stock worth $77,856,000 after purchasing an additional 625,120 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Trinity Industries by 6,561.8% in the first quarter. LSV Asset Management now owns 453,000 shares of the transportation company’s stock worth $9,843,000 after purchasing an additional 446,200 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.

Several analysts have weighed in on the stock. TheStreet downgraded shares of Trinity Industries from a “b” rating to a “c” rating in a research note on Thursday, April 25th. Buckingham Research set a $22.00 price target on shares of Trinity Industries and gave the stock a “hold” rating in a research note on Friday. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Tuesday, June 4th. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $170.00 price objective on shares of Spotify in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Trinity Industries stock traded up $0.34 during midday trading on Tuesday, reaching $19.30. 69,689 shares of the company traded hands, compared to its average volume of 1,200,855. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.37 and a beta of 1.97. The company’s 50 day simple moving average is $19.84. Trinity Industries has a 12 month low of $18.19 and a 12 month high of $39.35. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.91 and a quick ratio of 0.84.

Trinity Industries (NYSE:TRN) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $796.00 million. Trinity Industries had a net margin of 4.06% and a return on equity of 5.40%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. Sell-side analysts forecast that Trinity Industries will post 1.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.52%. Trinity Industries’s dividend payout ratio (DPR) is 85.00%.

About Trinity Industries

Trinity Industries, Inc provides rail transportation products and services in North America. It operates through three segments: Railcar Leasing and Management Services Group, Rail Products Group, and All Other. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investor-owned fund; and provides fleet maintenance and management services to industrial shippers.

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