Bessemer Group Inc. Lowers Position in TriMas Corporation (NASDAQ:TRS)

Bessemer Group Inc. reduced its holdings in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 66.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,645 shares of the industrial products company's stock after selling 11,340 shares during the period. Bessemer Group Inc.'s holdings in TriMas were worth $132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in TriMas by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company's stock valued at $6,052,000 after buying an additional 11,125 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of TriMas by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company's stock valued at $14,889,000 after buying an additional 22,656 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in TriMas in the 4th quarter worth $6,698,000. First Eagle Investment Management LLC increased its stake in TriMas by 1.8% in the 4th quarter. First Eagle Investment Management LLC now owns 257,506 shares of the industrial products company's stock worth $6,332,000 after buying an additional 4,500 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of TriMas by 203.5% in the fourth quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 8,031 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors.

TriMas Trading Down 0.9%

TRS stock traded down $0.26 during midday trading on Monday, reaching $29.71. 197,669 shares of the company traded hands, compared to its average volume of 359,036. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 38.58 and a beta of 0.63. TriMas Corporation has a 52-week low of $19.33 and a 52-week high of $30.12. The business has a 50 day moving average of $26.39 and a 200-day moving average of $24.29. 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 announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. TriMas had a return on equity of 10.54% and a net margin of 3.36%. The business had revenue of $241.67 million during the quarter, compared to analyst estimates of $235.41 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts expect 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, May 13th. Shareholders of record on Tuesday, May 6th were issued a $0.04 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.54%. TriMas's dividend payout ratio is presently 20.78%.

Insider Transactions at TriMas

In other TriMas news, Director Shawn Sedaghat purchased 410,172 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were bought at an average price of $25.43 per share, for a total transaction of $10,430,673.96. Following the acquisition, the director owned 1,810,821 shares in the company, valued at $46,049,178.03. This represents a 29.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Adrianne Shapira purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the acquisition, the director owned 8,476 shares in the company, valued at $218,850.32. This trade represents a 89.37% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 971,649 shares of company stock valued at $24,585,343 over the last quarter. 14.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRS. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. BWS Financial reiterated a "buy" rating and set a $40.00 price objective on shares of TriMas in a research report on Wednesday, April 30th.

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.