Granite Investment Partners LLC Makes New $14.53 Million Investment in Trinity Industries, Inc. (NYSE:TRN)

Granite Investment Partners LLC acquired a new stake in shares of Trinity Industries, Inc. (NYSE:TRN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 414,017 shares of the transportation company’s stock, valued at approximately $14,532,000. Granite Investment Partners LLC owned approximately 0.50% of Trinity Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings 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 worth $112,395,000 after buying an additional 73,183 shares during the period. HighTower Advisors LLC increased its position in shares of Trinity Industries by 125.9% during the third quarter. HighTower Advisors LLC now owns 56,979 shares of the transportation company’s stock worth $1,975,000 after acquiring an additional 31,758 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Trinity Industries by 9.5% during the fourth quarter. Trexquant Investment LP now owns 153,094 shares of the transportation company’s stock worth $5,374,000 after acquiring an additional 13,269 shares during the period. Raymond James Financial Inc. bought a new stake in Trinity Industries in the 4th quarter valued at $11,322,000. Finally, Truist Financial Corp boosted its stake in Trinity Industries by 57.5% in the 4th quarter. Truist Financial Corp now owns 16,260 shares of the transportation company’s stock worth $571,000 after purchasing an additional 5,935 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Trinity Industries Stock Down 1.4 %

Shares of TRN stock opened at $25.22 on Friday. The firm’s fifty day moving average price is $30.26 and its two-hundred day moving average price is $34.22. Trinity Industries, Inc. has a 1 year low of $23.50 and a 1 year 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 firm has a market capitalization of $2.06 billion, a P/E ratio of 15.38 and a beta of 1.49.

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

Trinity Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, April 15th. Trinity Industries’s dividend payout ratio is currently 73.17%.

Insider Activity

In other news, EVP Gregory B. Mitchell sold 9,286 shares of Trinity Industries stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $31.02, for a total transaction of $288,051.72. Following the completion of the transaction, the executive vice president now directly owns 111,879 shares in the company, valued at approximately $3,470,486.58. The trade was a 7.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Susquehanna boosted their price target on Trinity Industries from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, March 3rd.

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.