Comerica Bank Raises Position in 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 boosted its position in TriMas Corporation (NASDAQ:TRS - Free Report) by 214.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,119 shares of the industrial products company's stock after acquiring an additional 7,584 shares during the quarter. Comerica Bank's holdings in TriMas were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC increased its stake in TriMas by 250.6% in the first quarter. Jump Financial LLC now owns 40,068 shares of the industrial products company's stock valued at $939,000 after acquiring an additional 28,641 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in TriMas by 34.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 392,210 shares of the industrial products company's stock valued at $9,189,000 after acquiring an additional 100,610 shares during the last quarter. Tribune Investment Group LP bought a new position in TriMas in the first quarter valued at $1,757,000. Roubaix Capital LLC bought a new position in TriMas in the first quarter valued at $4,955,000. Finally, Raymond James Financial Inc. increased its stake in TriMas by 34.8% in the first quarter. Raymond James Financial Inc. now owns 367,215 shares of the industrial products company's stock valued at $8,604,000 after acquiring an additional 94,834 shares during the last quarter. Institutional investors own 99.42% of the company's stock.

TriMas Trading Down 0.5%

Shares of TriMas stock traded down $0.20 during trading on Friday, reaching $39.00. 616,231 shares of the stock were exchanged, compared to its average volume of 554,404. The company has a quick ratio of 1.44, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average is $35.07 and its 200 day moving average is $28.17. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 42.86 and a beta of 0.65. TriMas Corporation has a 1 year low of $19.33 and a 1 year high of $39.71.

TriMas (NASDAQ:TRS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.11. The company had revenue of $274.76 million during the quarter, compared to analyst estimates of $251.18 million. TriMas had a net margin of 3.83% and a return on equity of 11.49%. TriMas's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. As a group, equities research analysts expect that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently 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. KeyCorp set a $45.00 price objective on TriMas and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Zacks Research raised TriMas from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Finally, BWS Financial reaffirmed a "buy" rating and set a $45.00 price objective (up from $40.00) on shares of TriMas in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $45.00.

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.