Water Island Capital LLC Has $15.63 Million Stake in Trinity Industries Inc (TRN)

Water Island Capital LLC grew its holdings in shares of Trinity Industries Inc (NYSE:TRN) by 143.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 426,668 shares of the transportation company’s stock after buying an additional 251,668 shares during the quarter. Water Island Capital LLC owned 0.29% of Trinity Industries worth $15,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Trinity Industries by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 2,159,757 shares of the transportation company’s stock valued at $79,133,000 after buying an additional 7,863 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of Trinity Industries by 13,081.4% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,779,493 shares of the transportation company’s stock valued at $60,965,000 after buying an additional 1,765,993 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Trinity Industries by 12.3% during the third quarter. Jennison Associates LLC now owns 1,693,533 shares of the transportation company’s stock valued at $62,051,000 after buying an additional 184,920 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Trinity Industries by 171.2% during the second quarter. Sterling Capital Management LLC now owns 1,284,143 shares of the transportation company’s stock valued at $43,995,000 after buying an additional 810,646 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Trinity Industries by 34.4% during the second quarter. First Trust Advisors LP now owns 1,021,150 shares of the transportation company’s stock valued at $34,985,000 after buying an additional 261,306 shares during the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.

TRN opened at $23.09 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 2.50. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.36 and a beta of 2.25. Trinity Industries Inc has a twelve month low of $20.65 and a twelve month high of $39.35.

Trinity Industries (NYSE:TRN) last released its earnings results on Wednesday, October 24th. The transportation company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The company had revenue of $930.90 million during the quarter, compared to analysts’ expectations of $969.60 million. Trinity Industries had a net margin of 18.57% and a return on equity of 5.38%. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, research analysts anticipate that Trinity Industries Inc will post 1.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, October 12th. Trinity Industries’s payout ratio is 34.21%.

TRN has been the subject of a number of analyst reports. Stifel Nicolaus set a $34.00 price objective on shares of Trinity Industries and gave the company a “buy” rating in a report on Saturday, November 17th. Buckingham Research lifted their price objective on shares of Trinity Industries from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, October 5th. Cowen restated a “buy” rating and set a $47.00 price target on shares of Trinity Industries in a report on Wednesday, October 24th. Mizuho set a $40.00 price target on shares of Trinity Industries and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, UBS Group upgraded shares of Trinity Industries from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Trinity Industries presently has a consensus rating of “Buy” and an average price target of $33.00.

In related news, Director Brandon B. Boze bought 143,576 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were purchased at an average cost of $21.99 per share, for a total transaction of $3,157,236.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brandon B. Boze bought 8,788 shares of the company’s stock in a transaction on Friday, November 23rd. The stock was bought at an average price of $22.00 per share, for a total transaction of $193,336.00. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

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Trinity Industries Profile

Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.

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Institutional Ownership by Quarter for Trinity Industries (NYSE:TRN)

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