XTX Topco Ltd Makes New Investment in TriMas Corporation (NASDAQ:TRS)

Key Points

• XTX Topco Ltd acquired 20,878 shares of TriMas Corporation, valued at approximately $489,000, representing around 0.05% of the company's stock.
• Insider purchases included Director Shawn Sedaghat acquiring 72,937 shares for about $1.9 million, increasing their ownership by 4.03%.
• TriMas recently reported a quarterly earnings per share of $0.61, exceeding analysts' expectations, with revenue up 14.2% year-over-year at $274.76 million.

XTX Topco Ltd acquired a new position in shares of TriMas Corporation (NASDAQ:TRS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,878 shares of the industrial products company's stock, valued at approximately $489,000. XTX Topco Ltd owned 0.05% of TriMas at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRS. Bank of America Corp DE lifted its holdings in shares of TriMas by 127.3% during the fourth quarter. Bank of America Corp DE now owns 3,513,638 shares of the industrial products company's stock worth $86,400,000 after buying an additional 1,967,738 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TriMas during the fourth quarter worth $6,698,000. Kennedy Capital Management LLC lifted its holdings in shares of TriMas by 94.8% during the fourth quarter. Kennedy Capital Management LLC now owns 485,721 shares of the industrial products company's stock worth $11,944,000 after buying an additional 236,346 shares in the last quarter. Advisory Research Inc. lifted its holdings in shares of TriMas by 41.2% during the fourth quarter. Advisory Research Inc. now owns 754,089 shares of the industrial products company's stock worth $18,543,000 after buying an additional 220,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of TriMas during the fourth quarter worth $3,602,000. 99.42% of the stock is owned by institutional investors.

TriMas Price Performance

TRS stock traded up $0.18 during midday trading on Tuesday, reaching $35.00. The company had a trading volume of 52,347 shares, compared to its average volume of 414,049. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 38.46 and a beta of 0.66. The stock has a 50 day moving average price of $30.02 and a 200-day moving average price of $25.74. TriMas Corporation has a 1-year low of $19.33 and a 1-year high of $36.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.44.

TriMas (NASDAQ:TRS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.11. The business had revenue of $274.76 million during the quarter, compared to the consensus estimate of $251.18 million. TriMas had a return on equity of 11.49% and a net margin of 3.83%. TriMas's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities research analysts expect that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 5th. TriMas's payout ratio is 17.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TRS shares. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. BWS Financial reissued a "buy" rating and set a $45.00 target price (up previously from $40.00) on shares of TriMas in a report on Wednesday, July 30th.

Insider Transactions at TriMas

In related news, Director Adrianne Shapira purchased 4,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $25.82 per share, with a total value of $103,280.00. Following the completion of the purchase, the director directly owned 8,476 shares in the company, valued at $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Sedaghat bought 410,172 shares of the stock in a transaction on Wednesday, May 21st. The shares were acquired at an average cost of $25.43 per share, with a total value of $10,430,673.96. Following the purchase, the director owned 1,810,821 shares of the company's stock, valued at approximately $46,049,178.03. This represents a 29.28% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 848,166 shares of company stock valued at $21,642,659. 14.20% of the stock is owned by insiders.

TriMas Company Profile

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.