Trinity Industries (TRN) Declares $0.26 Dividend

Trinity Industries said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.26 per share ($1.04 annualized). Previously, the company paid $0.26 per share.

Shares must be purchased before the ex-div date of July 13, 2023 to qualify for the dividend. Shareholders of record as of July 14, 2023 will receive the payment on July 31, 2023.

At the current share price of $21.08 / share, the stock's dividend yield is 4.93%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.17%, the lowest has been 1.34%, and the highest has been 4.97%. The standard deviation of yields is 0.78 (n=237).

The current dividend yield is 2.26 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.37%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 539 funds or institutions reporting positions in Trinity Industries. This is an increase of 1 owner(s) or 0.19% in the last quarter. Average portfolio weight of all funds dedicated to TRN is 0.15%, an increase of 4.82%. Total shares owned by institutions decreased in the last three months by 3.69% to 89,684K shares. The put/call ratio of TRN is 0.47, indicating a bullish outlook.

Analyst Price Forecast Suggests 31.85% Upside

As of May 11, 2023, the average one-year price target for Trinity Industries is 27.80. The forecasts range from a low of 22.22 to a high of $37.80. The average price target represents an increase of 31.85% from its latest reported closing price of 21.08.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Trinity Industries is 2,943MM, an increase of 37.12%. The projected annual non-GAAP EPS is 2.05.

What are Other Shareholders Doing?

Capital International Investors holds 10,812K shares representing 13.32% ownership of the company. In it's prior filing, the firm reported owning 10,933K shares, representing a decrease of 1.12%. The firm increased its portfolio allocation in TRN by 25.93% over the last quarter.

CAIBX - CAPITAL INCOME BUILDER holds 7,712K shares representing 9.50% ownership of the company. No change in the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 6,032K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 5,988K shares, representing an increase of 0.72%. The firm increased its portfolio allocation in TRN by 26.92% over the last quarter.

Jennison Associates holds 4,477K shares representing 5.52% ownership of the company. In it's prior filing, the firm reported owning 4,423K shares, representing an increase of 1.21%. The firm decreased its portfolio allocation in TRN by 24.52% over the last quarter.

SMCWX - SMALLCAP WORLD FUND INC holds 2,513K shares representing 3.10% ownership of the company. No change in the last quarter.

Trinity Industries Background Information
(This description is provided by the company.)

Trinity Industries, Inc., headquartered in Dallas, Texas, owns businesses that are leading providers of rail transportation products and services in North America. Its rail-related businesses market their railcar products and services under the trade name TrinityRail®. The TrinityRail platform provides railcar leasing and management services, as well as railcar manufacturing, maintenance and modifications. Trinity also owns businesses engaged in the manufacture of products used on the nation's roadways and in traffic control. Trinity reports its financial results in three principal business segments: the Railcar Leasing and Management Services Group, the Rail Products Group, and the All Other Group.

This story originally appeared on Fintel.