Trinity Industries (NYSE:TRN) Sets New 12-Month High After Strong Earnings

Trinity Industries, Inc. (NYSE:TRN) shares hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $30.46 and last traded at $29.89, with a volume of 96770 shares traded. The stock had previously closed at $29.55.

The transportation company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $809.60 million for the quarter, compared to analyst estimates of $750.97 million. Trinity Industries had a return on equity of 10.93% and a net margin of 3.98%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS.

Trinity Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, April 12th. Trinity Industries’s dividend payout ratio (DPR) is currently 75.17%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TRN. TD Cowen boosted their price objective on Trinity Industries from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna upped their price target on shares of Trinity Industries from $30.00 to $34.00 and gave the company a “positive” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.00.

Insider Activity

In related news, CFO Eric R. Marchetto sold 9,781 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $28.00, for a total transaction of $273,868.00. Following the completion of the sale, the chief financial officer now directly owns 233,704 shares of the company’s stock, valued at $6,543,712. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Trinity Industries

A number of hedge funds have recently added to or reduced their stakes in TRN. Vanguard Group Inc. lifted its holdings in shares of Trinity Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 9,677,808 shares of the transportation company’s stock valued at $257,333,000 after buying an additional 83,769 shares during the period. Capital International Investors lifted its holdings in Trinity Industries by 0.3% in the fourth quarter. Capital International Investors now owns 8,645,840 shares of the transportation company’s stock valued at $230,009,000 after acquiring an additional 23,720 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Trinity Industries by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,058,174 shares of the transportation company’s stock worth $161,088,000 after purchasing an additional 47,668 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Trinity Industries by 3.2% during the 3rd quarter. Jennison Associates LLC now owns 4,720,106 shares of the transportation company’s stock worth $114,935,000 after purchasing an additional 146,341 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Trinity Industries by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,263,458 shares of the transportation company’s stock valued at $33,595,000 after purchasing an additional 82,256 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Trinity Industries Price Performance

The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 20.43 and a beta of 1.39. The company’s 50 day moving average is $26.67 and its 200 day moving average is $25.57. The company has a debt-to-equity ratio of 4.55, a current ratio of 1.88 and a quick ratio of 0.78.

About Trinity Industries

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.