Comerica Bank Buys 7,584 Shares of TriMas Corporation $TRS

Key Points

• Comerica Bank increased its stake in TriMas Corporation by 214.5% in Q1, acquiring an additional 7,584 shares, bringing its total holdings to 11,119 shares valued at $261,000.
• TriMas reported earnings per share of $0.61 for the recent quarter, exceeding estimates and showing a 14.2% revenue growth year-over-year, resulting in a total revenue of $274.76 million.
• The company announced a new quarterly dividend payout of $0.04, representing an annualized yield of 0.4% and a payout ratio of 17.58%.

Comerica Bank lifted its stake in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 214.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,119 shares of the industrial products company's stock after purchasing an additional 7,584 shares during the period. Comerica Bank's holdings in TriMas were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRS. State of Wyoming bought a new stake in TriMas in the 4th quarter valued at $50,000. ProShare Advisors LLC bought a new stake in TriMas in the 4th quarter valued at $281,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 14,565 shares during the period. Point72 Asset Management L.P. bought a new stake in TriMas in the 4th quarter valued at $430,000. Finally, US Bancorp DE raised its stake in 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 acquiring an additional 6,596 shares during the period. Institutional investors own 99.42% of the company's stock.

TriMas Stock Performance

TRS opened at $38.28 on Wednesday. The business's fifty day moving average is $34.53 and its 200-day moving average is $27.76. 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 Corporation has a 52-week low of $19.33 and a 52-week high of $39.71. The firm has a market cap of $1.56 billion, a P/E ratio of 42.07 and a beta of 0.65.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $251.18 million. During the same period last year, the firm posted $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. Sell-side analysts expect that TriMas Corporation will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, August 5th. TriMas's payout ratio is currently 17.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRS. Wall Street Zen upgraded TriMas from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. KeyCorp set a $45.00 price objective on TriMas and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Zacks Research upgraded TriMas from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. Finally, BWS Financial reiterated a "buy" rating and set a $45.00 price objective (up previously from $40.00) on shares of TriMas in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price 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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