75,000 Shares in TriMas Corporation $TRS Bought by Tribune Investment Group LP

Key Points

• Tribune Investment Group LP acquired 75,000 shares of TriMas Corporation, valued at approximately $1,757,000, increasing their ownership to 0.18% as per the latest SEC filing.
• TriMas recently reported a profit of $0.61 per share for the last quarter, surpassing analysts' expectations, with revenue also exceeding forecasts at $274.76 million.
• Analysts have largely upgraded TriMas, with an average price target of $45.00 and multiple analysts giving the stock a "buy" rating.

Tribune Investment Group LP bought a new position in shares of TriMas Corporation (NASDAQ:TRS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 75,000 shares of the industrial products company's stock, valued at approximately $1,757,000. Tribune Investment Group LP owned approximately 0.18% of TriMas as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in TriMas by 127.3% during the 4th 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. Pzena Investment Management LLC increased its position in shares of TriMas by 0.7% in the 1st quarter. Pzena Investment Management LLC now owns 2,135,554 shares of the industrial products company's stock valued at $50,036,000 after purchasing an additional 14,942 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of TriMas by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 614,023 shares of the industrial products company's stock valued at $14,387,000 after purchasing an additional 8,521 shares during the last quarter. Northern Trust Corp increased its position in shares of TriMas by 9.9% in the 4th 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 during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of TriMas by 34.8% in the 1st quarter. Raymond James Financial Inc. now owns 367,215 shares of the industrial products company's stock valued at $8,604,000 after purchasing an additional 94,834 shares during the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TriMas

In other news, Director Adrianne Shapira bought 4,000 shares of TriMas stock in a transaction dated Thursday, June 5th. The stock was acquired at an average cost of $25.82 per share, with a total value of $103,280.00. Following the acquisition, the director owned 8,476 shares of the company's stock, valued at approximately $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 5,266 shares of company stock valued at $137,188. 14.20% of the stock is currently owned by insiders.

TriMas Stock Performance

NASDAQ TRS traded up $0.66 during trading hours on Friday, hitting $38.33. The company had a trading volume of 462,951 shares, compared to its average volume of 616,365. The business has a 50 day moving average of $31.92 and a 200-day moving average of $26.52. The company has a market cap of $1.56 billion, a PE ratio of 42.12 and a beta of 0.66. TriMas Corporation has a 1-year low of $19.33 and a 1-year high of $38.56. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 2.59.

TriMas (NASDAQ:TRS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.11. TriMas had a return on equity of 11.49% and a net margin of 3.83%.The business had revenue of $274.76 million for the quarter, compared to analysts' expectations of $251.18 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's revenue was up 14.2% compared to the same quarter last year. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. As a group, equities research analysts expect that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Announces Dividend

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

Wall Street Analyst Weigh In

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

TriMas 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.