Allspring Global Investments Holdings LLC Decreases Stake in TriMas Corporation $TRS

Allspring Global Investments Holdings LLC reduced its position in TriMas Corporation (NASDAQ:TRS - Free Report) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,924,424 shares of the industrial products company's stock after selling 124,344 shares during the period. Allspring Global Investments Holdings LLC owned approximately 7.19% of TriMas worth $84,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRS. Apexium Financial LP purchased a new position in TriMas in the 2nd quarter valued at about $243,000. Comerica Bank boosted its position in TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock valued at $261,000 after buying an additional 7,584 shares during the last quarter. GAMMA Investing LLC boosted its position in TriMas by 3,802.9% in the 1st quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company's stock valued at $350,000 after buying an additional 14,565 shares during the last quarter. Ancora Advisors LLC acquired a new stake in shares of TriMas in the 1st quarter valued at about $351,000. Finally, US Bancorp DE raised its stake in shares of TriMas by 54.4% in the 1st quarter. US Bancorp DE now owns 18,712 shares of the industrial products company's stock valued at $438,000 after purchasing an additional 6,596 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

TriMas Price Performance

Shares of NASDAQ:TRS opened at $35.88 on Tuesday. The firm's 50 day moving average is $37.87 and its two-hundred day moving average is $30.31. TriMas Corporation has a 52 week low of $19.33 and a 52 week high of $40.34. The firm has a market capitalization of $1.46 billion, a P/E ratio of 39.43 and a beta of 0.62. The company has a current ratio of 2.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

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

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders 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 annualized dividend and a dividend yield of 0.4%. TriMas's dividend payout ratio (DPR) is 17.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TRS shares. Weiss Ratings restated a "hold (c)" rating on shares of TriMas in a research note on Wednesday, October 8th. KeyCorp set a $45.00 target price on shares of TriMas and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Zacks Research raised shares of TriMas from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Finally, BWS Financial reissued a "buy" rating and issued a $45.00 target price (up previously from $40.00) on shares of TriMas in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $45.00.

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.

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