Bank of New York Mellon Corp Lowers Holdings in Trinity Industries, Inc. (NYSE:TRN)

Bank of New York Mellon Corp decreased its holdings in Trinity Industries, Inc. (NYSE:TRN) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 862,754 shares of the transportation company’s stock after selling 33,393 shares during the quarter. Bank of New York Mellon Corp owned 1.06% of Trinity Industries worth $24,209,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund boosted its position in Trinity Industries by 1.1% during the first quarter. Illinois Municipal Retirement Fund now owns 44,168 shares of the transportation company’s stock valued at $1,239,000 after purchasing an additional 462 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Trinity Industries by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,550 shares of the transportation company’s stock valued at $300,000 after purchasing an additional 543 shares during the last quarter. Everstar Asset Management LLC increased its stake in Trinity Industries by 6.2% during the 4th quarter. Everstar Asset Management LLC now owns 13,994 shares of the transportation company’s stock worth $491,000 after buying an additional 813 shares during the period. Centiva Capital LP increased its holdings in shares of Trinity Industries by 12.7% in the 4th quarter. Centiva Capital LP now owns 10,106 shares of the transportation company’s stock valued at $355,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Trinity Industries by 8.9% during the 4th quarter. Bank of Montreal Can now owns 15,063 shares of the transportation company’s stock worth $529,000 after acquiring an additional 1,227 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TRN. Susquehanna lowered their price objective on Trinity Industries from $35.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on Trinity Industries from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th.

Trinity Industries Price Performance

Shares of TRN stock opened at $26.86 on Friday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.58 and a beta of 1.45. Trinity Industries, Inc. has a 12-month low of $23.01 and a 12-month high of $39.83. The firm has a fifty day moving average of $26.65 and a 200-day moving average of $29.53. The company has a quick ratio of 0.87, a current ratio of 1.70 and a debt-to-equity ratio of 4.32.

Trinity Industries (NYSE:TRN) last posted its quarterly earnings results on Thursday, May 1st. The transportation company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Trinity Industries had a return on equity of 11.47% and a net margin of 4.79%. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $614.02 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was down 27.7% on a year-over-year basis. On average, equities research analysts forecast that Trinity Industries, Inc. will post 1.65 earnings per share for the current year.

Trinity Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.47%. Trinity Industries’s dividend payout ratio (DPR) is 74.07%.

Trinity Industries Profile

Trinity Industries, Inc provides rail transportation products and services under the TrinityRail name in North America. It operates in two segments, Railcar Leasing and Management Services Group, and Rail Products Group. The Railcar Leasing and Management Services Group segment leases freight and tank railcars; originates and manages railcar leases for third-party investors; and provides fleet maintenance and management services.