Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Trinity Industries, Inc. (NYSE:TRN – Get Rating) by 19.4% during the first quarter, Holdings Channel reports. The firm owned 531,464 shares of the transportation company’s stock after selling 128,063 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Trinity Industries were worth $18,261,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRN. Bank of America Corp DE lifted its position in Trinity Industries by 111.0% during the fourth quarter. Bank of America Corp DE now owns 167,969 shares of the transportation company’s stock valued at $5,073,000 after purchasing an additional 88,373 shares during the period. Teacher Retirement System of Texas raised its position in Trinity Industries by 7.4% in the fourth quarter. Teacher Retirement System of Texas now owns 14,410 shares of the transportation company’s stock worth $435,000 after acquiring an additional 999 shares during the period. Citigroup Inc. raised its position in Trinity Industries by 19.4% in the fourth quarter. Citigroup Inc. now owns 44,756 shares of the transportation company’s stock worth $1,351,000 after acquiring an additional 7,270 shares during the period. Candriam Luxembourg S.C.A. bought a new position in Trinity Industries in the fourth quarter worth approximately $2,160,000. Finally, True North Advisors LLC bought a new position in Trinity Industries in the fourth quarter worth approximately $735,000. Institutional investors own 86.09% of the company’s stock.
Trinity Industries Stock Down 2.0 %
TRN opened at $22.92 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.58 and a debt-to-equity ratio of 4.41. Trinity Industries, Inc. has a 1-year low of $20.94 and a 1-year high of $35.35. The company has a market capitalization of $1.88 billion, a PE ratio of 13.25 and a beta of 1.31. The firm’s 50 day simple moving average is $24.95 and its two-hundred day simple moving average is $27.07.
Trinity Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.01%. Trinity Industries’s dividend payout ratio (DPR) is presently 53.18%.
Wall Street Analysts Forecast Growth
Separately, Stephens increased their price target on shares of Trinity Industries from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th.
Trinity Industries Company 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.
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