Millennium Management LLC Grows Stock Holdings in Trinity Industries, Inc. (NYSE:TRN)

Millennium Management LLC grew its stake in Trinity Industries, Inc. (NYSE:TRN) by 180.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 823,040 shares of the transportation company’s stock after purchasing an additional 529,857 shares during the period. Millennium Management LLC’s holdings in Trinity Industries were worth $24,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TRN. Deerfield Management Company L.P. Series C grew its position in Trinity Industries by 11.2% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,376 shares of the transportation company’s stock worth $310,000 after acquiring an additional 1,047 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of Trinity Industries during the 2nd quarter worth about $40,527,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trinity Industries in the 2nd quarter valued at about $214,000. Point72 Hong Kong Ltd acquired a new position in Trinity Industries in the second quarter valued at about $1,111,000. Finally, Squarepoint Ops LLC boosted its stake in Trinity Industries by 357.3% during the second quarter. Squarepoint Ops LLC now owns 73,688 shares of the transportation company’s stock worth $2,205,000 after buying an additional 57,573 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Trinity Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th.

Trinity Industries Stock Performance

NYSE:TRN opened at $33.33 on Friday. Trinity Industries, Inc. has a 52 week low of $20.04 and a 52 week high of $37.04. The company has a fifty day simple moving average of $32.83 and a two-hundred day simple moving average of $30.45. The company has a quick ratio of 0.98, a current ratio of 1.91 and a debt-to-equity ratio of 4.39. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 22.37 and a beta of 1.39.

Trinity Industries (NYSE:TRN) last released its earnings results on Thursday, August 1st. The transportation company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.34 by $0.32. The firm had revenue of $841.40 million during the quarter, compared to analysts’ expectations of $738.00 million. Trinity Industries had a return on equity of 13.66% and a net margin of 4.98%. Trinity Industries’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. As a group, equities analysts anticipate that Trinity Industries, Inc. will post 1.65 earnings per share for the current fiscal year.

Trinity Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.36%. Trinity Industries’s dividend payout ratio (DPR) is 75.17%.

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.