Short Interest in Trinity Industries Inc (NYSE:TRN) Declines By 6.8%

Trinity Industries Inc (NYSE:TRN) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 11,770,200 shares, a drop of 6.8% from the May 15th total of 12,628,200 shares. Currently, 9.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 10.1 days.

In other news, insider Brian D. Madison sold 2,157 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was 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 owns 58,345 shares in the company, valued at $1,219,410.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank acquired a new position in shares of Trinity Industries in the 1st quarter worth approximately $62,000. Private Capital Group LLC lifted its holdings in shares of Trinity Industries by 45.3% in the 1st quarter. Private Capital Group LLC now owns 2,975 shares of the transportation company’s stock worth $65,000 after purchasing an additional 927 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Trinity Industries by 62.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,817 shares of the transportation company’s stock worth $83,000 after purchasing an additional 1,463 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Trinity Industries in the 1st quarter worth approximately $148,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Trinity Industries by 2,375.9% in the 4th quarter. Bessemer Group Inc. now owns 7,279 shares of the transportation company’s stock worth $150,000 after purchasing an additional 6,985 shares during the last quarter. Institutional investors own 86.93% of the company’s stock.

A number of equities research analysts have weighed in on the company. Buckingham Research set a $7.00 price objective on FreightCar America and gave the company a “hold” rating in a research note on Friday, March 22nd. TheStreet lowered Trinity Industries from a “b” rating to a “c” rating in a research note on Thursday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $170.00 price objective on shares of Spotify in a research note on Friday, April 26th. Stephens assumed coverage on Carrizo Oil & Gas in a research note on Thursday, March 28th. They set an “equal weight” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research upgraded Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.44.

Shares of TRN opened at $19.88 on Friday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.96. The business has a 50 day moving average price of $20.01. The company has a current ratio of 2.02, a quick ratio of 0.86 and a debt-to-equity ratio of 1.74. Trinity Industries has a 52 week low of $18.99 and a 52 week high of $39.35.

Trinity Industries (NYSE:TRN) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $604.80 million during the quarter, compared to analyst estimates of $660.72 million. Trinity Industries had a return on equity of 5.63% and a net margin of 4.66%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, sell-side analysts forecast that Trinity Industries will post 1.33 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a $0.17 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.42%. Trinity Industries’s payout ratio 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.

Further Reading: Book Value Per Share – BVPS

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