Norges Bank Invests $2.44 Million in Trinity Industries, Inc. (NYSE:TRN)

Norges Bank bought a new stake in Trinity Industries, Inc. (NYSE:TRN) during the 4th quarter, HoldingsChannel reports. The fund bought 69,538 shares of the transportation company’s stock, valued at approximately $2,441,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Trinity Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 10,099,602 shares of the transportation company’s stock worth $354,496,000 after purchasing an additional 126,139 shares in the last quarter. Jennison Associates LLC grew its position in Trinity Industries by 0.5% in the 4th quarter. Jennison Associates LLC now owns 3,588,234 shares of the transportation company’s stock valued at $125,947,000 after buying an additional 18,851 shares in the last quarter. State Street Corp increased its stake in Trinity Industries by 2.3% during the 3rd quarter. State Street Corp now owns 3,226,026 shares of the transportation company’s stock valued at $112,395,000 after buying an additional 73,183 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Trinity Industries during the 4th quarter worth about $104,136,000. Finally, American Century Companies Inc. lifted its stake in shares of Trinity Industries by 25.6% in the 4th quarter. American Century Companies Inc. now owns 2,187,366 shares of the transportation company’s stock worth $76,777,000 after acquiring an additional 446,142 shares during the period. Institutional investors own 86.57% of the company’s stock.

Insider Transactions at Trinity Industries

In other Trinity Industries news, EVP Gregory B. Mitchell sold 9,286 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $31.02, for a total transaction of $288,051.72. Following the completion of the sale, the executive vice president now directly owns 111,879 shares of the company’s stock, valued at approximately $3,470,486.58. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Trinity Industries Price Performance

Shares of Trinity Industries stock opened at $25.22 on Friday. Trinity Industries, Inc. has a 52 week low of $23.50 and a 52 week high of $39.83. The company has a current ratio of 1.80, a quick ratio of 1.08 and a debt-to-equity ratio of 4.35. The stock has a market cap of $2.06 billion, a PE ratio of 15.38 and a beta of 1.49. The company’s 50-day moving average price is $30.26 and its two-hundred day moving average price is $34.22.

Trinity Industries (NYSE:TRN) last released its earnings results on Thursday, February 20th. The transportation company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $629.40 million for the quarter, compared to the consensus estimate of $589.30 million. Trinity Industries had a net margin of 4.49% and a return on equity of 11.78%. As a group, sell-side analysts anticipate that Trinity Industries, Inc. will post 1.65 EPS for the current fiscal year.

Trinity Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.76%. Trinity Industries’s dividend payout ratio (DPR) is presently 73.17%.

Analyst Upgrades and Downgrades

Separately, Susquehanna raised their price objective on shares of Trinity Industries from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd.

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.