Nuveen LLC Invests $5.93 Million in TriMas Corporation $TRS

Key Points

• Nuveen LLC acquired 253,185 shares of TriMas Corporation, valued at approximately $5.93 million, representing about 0.62% ownership of the company.
• Analysts have raised their rating on TriMas from "hold" to "buy," with a consensus target price of $45.00 reflecting positive sentiment on the stock's potential.
• TriMas recently reported earnings of $0.61 per share, surpassing estimates, and recorded a revenue increase of 14.2% year-over-year for the last quarter.

Nuveen LLC acquired a new stake in shares of TriMas Corporation (NASDAQ:TRS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 253,185 shares of the industrial products company's stock, valued at approximately $5,932,000. Nuveen LLC owned about 0.62% of TriMas at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TRS. Bank of America Corp DE raised its position 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 valued at $86,400,000 after buying an additional 1,967,738 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of TriMas in the fourth quarter valued at $1,602,000. Cubist Systematic Strategies LLC purchased a new position in shares of TriMas in the fourth quarter valued at $883,000. Northern Trust Corp grew its holdings in shares of TriMas by 9.9% in the fourth quarter. Northern Trust Corp now owns 398,213 shares of the industrial products company's stock valued at $9,792,000 after purchasing an additional 35,798 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of TriMas by 51.4% in the fourth quarter. Barclays PLC now owns 104,163 shares of the industrial products company's stock valued at $2,560,000 after purchasing an additional 35,371 shares in the last quarter. Institutional investors own 99.42% of the company's stock.

TriMas Stock Down 0.3%

Shares of TRS stock traded down $0.10 on Friday, hitting $38.67. The stock had a trading volume of 499,103 shares, compared to its average volume of 551,264. The company has a quick ratio of 1.44, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $33.07 and a 200 day moving average price of $27.01. The company has a market cap of $1.57 billion, a PE ratio of 42.49 and a beta of 0.66. TriMas Corporation has a one year low of $19.33 and a one year high of $39.09.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.11. The firm 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%.The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Research analysts anticipate that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued a $0.04 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. TriMas's payout ratio is currently 17.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRS shares. KeyCorp set a $45.00 target price on shares of TriMas and gave the company an "overweight" rating in a report on Tuesday, August 12th. BWS Financial reiterated a "buy" rating and set a $45.00 price target (up from $40.00) on shares of TriMas in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, TriMas currently has an average rating of "Buy" and a consensus price target of $45.00.

Insider Activity

In related news, Director Adrianne Shapira acquired 4,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the completion of the acquisition, the director directly owned 8,476 shares in the company, valued at $218,850.32. The trade was a 89.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 5,266 shares of company stock worth $137,188 in the last 90 days. Corporate insiders own 14.20% of the company's stock.

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.