Allspring Global Investments Holdings LLC Lowers Stake in TriMas Corporation (NASDAQ:TRS)

Allspring Global Investments Holdings LLC reduced its stake in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,048,768 shares of the industrial products company's stock after selling 77,975 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 7.49% of TriMas worth $71,494,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TRS. Bank of New York Mellon Corp lifted its stake 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 worth $6,052,000 after acquiring an additional 11,125 shares during the period. Bellecapital International Ltd. purchased a new stake in TriMas in the fourth quarter worth about $29,160,000. Charles Schwab Investment Management Inc. lifted its stake 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 worth $14,889,000 after acquiring an additional 22,656 shares during the period. Raymond James Financial Inc. purchased a new stake in TriMas in the fourth quarter worth about $6,698,000. Finally, First Eagle Investment Management LLC lifted its stake 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 worth $6,332,000 after acquiring an additional 4,500 shares during the period. 99.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRS has been the subject of a number of research reports. Wall Street Zen raised shares of TriMas from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. BWS Financial reaffirmed a "buy" rating and issued a $40.00 price objective on shares of TriMas in a research note on Wednesday, April 30th.

TriMas Stock Performance

Shares of TriMas stock opened at $28.38 on Friday. The company has a market capitalization of $1.15 billion, a PE ratio of 36.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.82. The company has a 50-day simple moving average of $25.36 and a two-hundred day simple moving average of $24.12. TriMas Corporation has a one year low of $19.33 and a one year high of $28.77.

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, topping analysts' consensus estimates of $0.43 by $0.03. The business had revenue of $241.67 million during the quarter, compared to the consensus estimate of $235.41 million. TriMas had a net margin of 3.36% and a return on equity of 10.54%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Research analysts expect that TriMas Corporation will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.56%. TriMas's dividend payout ratio is presently 20.78%.

Insiders Place Their Bets

In related news, Director Adrianne Shapira acquired 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average cost of $26.31 per share, with a total value of $31,572.00. Following the transaction, the director now directly owns 4,476 shares of the company's stock, valued at $117,763.56. This trade represents a 36.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Shawn Sedaghat acquired 123,388 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was bought at an average cost of $23.83 per share, with a total value of $2,940,336.04. Following the completion of the transaction, the director now directly owns 1,024,362 shares in the company, valued at $24,410,546.46. The trade was a 13.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 971,649 shares of company stock worth $24,585,343. 14.20% of the stock is owned by corporate insiders.

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.

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