Bank of New York Mellon Corp Decreases Position in Trinity Industries, Inc. (NYSE:TRN)

Bank of New York Mellon Corp cut its stake in shares of Trinity Industries, Inc. (NYSE:TRN) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 896,147 shares of the transportation company’s stock after selling 20,920 shares during the period. Bank of New York Mellon Corp owned 1.09% of Trinity Industries worth $31,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV increased its holdings in Trinity Industries by 71.6% during the 4th quarter. KBC Group NV now owns 3,952 shares of the transportation company’s stock worth $139,000 after purchasing an additional 1,649 shares during the period. Matrix Trust Co lifted its position in Trinity Industries by 599.3% during the 4th quarter. Matrix Trust Co now owns 4,923 shares of the transportation company’s stock worth $173,000 after acquiring an additional 4,219 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Trinity Industries during the 3rd quarter worth about $204,000. Ieq Capital LLC acquired a new stake in Trinity Industries during the 4th quarter worth about $215,000. Finally, M&T Bank Corp acquired a new stake in Trinity Industries during the 3rd quarter worth about $248,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TRN. The Goldman Sachs Group began coverage on Trinity Industries in a research report on Monday, November 18th. They set a “neutral” rating and a $39.00 price target for the company. Susquehanna boosted their price objective on Trinity Industries from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, March 3rd.

Insider Buying and Selling at Trinity Industries

In other news, EVP Gregory B. Mitchell sold 9,286 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $31.02, for a total value of $288,051.72. Following the completion of the sale, the executive vice president now directly owns 111,879 shares in the company, valued at $3,470,486.58. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

Trinity Industries Stock Performance

Shares of TRN stock opened at $29.84 on Friday. The stock has a market cap of $2.44 billion, a PE ratio of 18.19 and a beta of 1.40. Trinity Industries, Inc. has a 52-week low of $25.17 and a 52-week high of $39.83. The company has a quick ratio of 1.08, a current ratio of 1.80 and a debt-to-equity ratio of 4.35. The business has a 50-day simple moving average of $35.15 and a 200-day simple moving average of $35.10.

Trinity Industries (NYSE:TRN) last released its quarterly earnings results on Thursday, February 20th. The transportation company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $629.40 million during the quarter, compared to analysts’ expectations 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 expect that Trinity Industries, Inc. will post 1.65 EPS for the current year.

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.