GAMMA Investing LLC Grows Holdings in TriMas Corporation (NASDAQ:TRS)

GAMMA Investing LLC increased its position in TriMas Corporation (NASDAQ:TRS - Free Report) by 3,802.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,948 shares of the industrial products company's stock after purchasing an additional 14,565 shares during the period. GAMMA Investing LLC's holdings in TriMas were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in TriMas by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock worth $32,000 after buying an additional 1,158 shares during the last quarter. State of Wyoming purchased a new position in TriMas in the 4th quarter worth about $50,000. KLP Kapitalforvaltning AS purchased a new position in TriMas in the 4th quarter worth about $202,000. ProShare Advisors LLC purchased a new position in TriMas in the 4th quarter worth about $281,000. Finally, Quantbot Technologies LP raised its position in TriMas by 203.5% in the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock worth $295,000 after buying an additional 8,031 shares during the last quarter. Institutional investors own 99.42% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Shawn Sedaghat bought 254,400 shares of TriMas stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $25.39 per share, with a total value of $6,459,216.00. Following the acquisition, the director now owns 1,295,692 shares of the company's stock, valued at $32,897,619.88. The trade was a 24.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adrianne Shapira bought 1,200 shares of TriMas 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 completion of the acquisition, the director now directly owns 4,476 shares in the company, valued at $117,763.56. This represents a 36.63% 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 in the last quarter. 14.20% of the stock is currently owned by insiders.

TriMas Stock Performance

Shares of NASDAQ TRS traded down $0.04 during midday trading on Friday, hitting $27.18. 536,360 shares of the company's stock traded hands, compared to its average volume of 348,442. TriMas Corporation has a 1 year low of $19.33 and a 1 year high of $28.51. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 35.30 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 firm has a fifty day moving average of $24.63 and a 200 day moving average of $24.05.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, beating 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 firm had revenue of $241.67 million during the quarter, compared to analyst estimates of $235.41 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, May 6th. TriMas's payout ratio is currently 20.78%.

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.