Bank of America Corp DE Raises Stock Position in TriMas Co. (NASDAQ:TRS)

Bank of America Corp DE increased its position in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 127.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,513,638 shares of the industrial products company's stock after purchasing an additional 1,967,738 shares during the period. Bank of America Corp DE owned 8.66% of TriMas worth $86,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its stake in shares of TriMas by 341.3% during the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company's stock worth $1,755,000 after purchasing an additional 53,203 shares in the last quarter. JPMorgan Chase & Co. lifted its position in TriMas by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company's stock valued at $982,000 after acquiring an additional 1,227 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in TriMas by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company's stock valued at $14,889,000 after acquiring an additional 22,656 shares during the last quarter. Bank of New York Mellon Corp lifted its position in TriMas by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company's stock valued at $6,052,000 after acquiring an additional 11,125 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in TriMas by 1.8% in the fourth quarter. First Eagle Investment Management LLC now owns 257,506 shares of the industrial products company's stock valued at $6,332,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Insider Transactions at TriMas

In other news, Director Jeffrey A. Fielkow acquired 2,500 shares of TriMas stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the completion of the transaction, the director now directly owns 11,013 shares in the company, valued at approximately $228,850.14. This trade represents a 29.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Mell sold 2,218 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the completion of the sale, the chief financial officer now owns 26,288 shares of the company's stock, valued at approximately $592,531.52. The trade was a 7.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 929,729 shares of company stock worth $22,280,897. Company insiders own 14.20% of the company's stock.

TriMas Stock Performance

TRS traded up $0.61 on Thursday, reaching $24.73. The company had a trading volume of 420,864 shares, compared to its average volume of 322,976. TriMas Co. has a 1 year low of $19.33 and a 1 year high of $28.51. The stock has a market capitalization of $1.01 billion, a PE ratio of 38.64 and a beta of 0.58. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $22.85 and a 200-day moving average price of $24.12.

TriMas (NASDAQ:TRS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The business had revenue of $241.67 million during the quarter, compared to analysts' expectations of $235.41 million. During the same period in the prior year, the company earned $0.37 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. As a group, research analysts forecast that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. TriMas's dividend payout ratio (DPR) is 20.78%.

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and issued a $40.00 price target on shares of TriMas in a research report on Wednesday, April 30th.

About TriMas

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.