Allspring Global Investments Holdings LLC Has $71.49 Million Position in TriMas Corporation (NASDAQ:TRS)

Allspring Global Investments Holdings LLC trimmed its position in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also 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. Bellecapital International Ltd. acquired a new position in TriMas during the 4th quarter worth $29,160,000. Raymond James Financial Inc. bought a new position in shares of TriMas in the 4th quarter valued at about $6,698,000. Kennedy Capital Management LLC lifted its stake in shares of TriMas by 94.8% in the 4th quarter. Kennedy Capital Management LLC now owns 485,721 shares of the industrial products company's stock valued at $11,944,000 after purchasing an additional 236,346 shares during the period. Finally, Advisory Research Inc. grew its position in shares of TriMas by 41.2% during the 4th 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 during the period. Institutional investors and hedge funds own 99.42% of the company's stock.

TriMas Stock Performance

NASDAQ:TRS traded up $0.77 during mid-day trading on Wednesday, reaching $29.82. 321,580 shares of the company's stock were exchanged, compared to its average volume of 357,341. The business's fifty day simple moving average is $25.70 and its two-hundred day simple moving average is $24.16. TriMas Corporation has a one year low of $19.33 and a one year high of $30.10. The firm has a market capitalization of $1.21 billion, a PE ratio of 38.73 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.82.

TriMas (NASDAQ:TRS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. TriMas had a net margin of 3.36% and a return on equity of 10.54%. The business had revenue of $241.67 million during the quarter, compared to analysts' expectations of $235.41 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. TriMas's revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid 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 dividend yield of 0.54%. TriMas's payout ratio is currently 20.78%.

Analyst Ratings Changes

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

Insider Buying and Selling at TriMas

In other news, Director Adrianne Shapira acquired 4,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was bought 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 of the company's stock, valued at $218,850.32. This represents a 89.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Sedaghat acquired 410,172 shares of TriMas stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average cost of $25.43 per share, for a total transaction of $10,430,673.96. Following the purchase, the director owned 1,810,821 shares of the company's stock, valued at $46,049,178.03. The trade was a 29.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 971,649 shares of company stock valued at $24,585,343 over the last quarter. Company insiders own 14.20% of the company's stock.

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.