Invesco Ltd. Sells 8,333 Shares of TriMas Corporation $TRS

Key Points

• Invesco Ltd. reduced its stake in TriMas Corporation by 8.9%, selling 8,333 shares, and now owns 85,649 shares valued at approximately $2 million.
• Several institutional investors have increased their stakes in TriMas, with Bank of America Corp DE significantly growing its position by 127.3%, now owning over 3.5 million shares valued at $86.4 million.
• TriMas recently reported earnings of $0.61 per share, exceeding expectations, with revenue up 14.2% year-over-year, and has set a fiscal 2025 EPS guidance of 1.950-2.100.

Invesco Ltd. cut its position in TriMas Corporation (NASDAQ:TRS - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,649 shares of the industrial products company's stock after selling 8,333 shares during the period. Invesco Ltd. owned 0.21% of TriMas worth $2,007,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in TriMas by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 614,023 shares of the industrial products company's stock valued at $14,387,000 after acquiring an additional 8,521 shares in the last quarter. US Bancorp DE lifted its holdings in TriMas by 54.4% during the first quarter. US Bancorp DE now owns 18,712 shares of the industrial products company's stock worth $438,000 after acquiring an additional 6,596 shares during the period. XTX Topco Ltd bought a new stake in shares of TriMas in the 1st quarter worth approximately $489,000. Pzena Investment Management LLC raised its holdings in shares of TriMas by 0.7% in the 1st quarter. Pzena Investment Management LLC now owns 2,135,554 shares of the industrial products company's stock worth $50,036,000 after purchasing an additional 14,942 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of TriMas by 44.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,765 shares of the industrial products company's stock worth $533,000 after purchasing an additional 7,016 shares during the period. 99.42% of the stock is currently owned by institutional investors and hedge funds.

TriMas Trading Up 0.4%

NASDAQ TRS traded up $0.15 during trading on Thursday, hitting $38.74. 25,096 shares of the company's stock traded hands, compared to its average volume of 430,284. The stock has a fifty day moving average of $33.71 and a two-hundred day moving average of $27.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.44. TriMas Corporation has a 12-month low of $19.33 and a 12-month high of $39.09. The firm has a market cap of $1.57 billion, a P/E ratio of 42.56 and a beta of 0.65.

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, sell-side analysts expect that TriMas Corporation will post 1.69 EPS for the current 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%.

Wall Street Analyst Weigh In

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

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.