Massachusetts Financial Services Co. MA Reduces Stake in TriMas Corporation (NASDAQ:TRS)

Massachusetts Financial Services Co. MA decreased its stake in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,029,527 shares of the industrial products company's stock after selling 24,960 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.53% of TriMas worth $24,122,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG raised its stake in shares of TriMas by 45.6% in the fourth quarter. Deutsche Bank AG now owns 36,305 shares of the industrial products company's stock worth $893,000 after purchasing an additional 11,363 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in TriMas by 3.9% during the fourth 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of TriMas by 3,802.9% during the 1st quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company's stock worth $350,000 after acquiring an additional 14,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of TriMas by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company's stock valued at $568,000 after acquiring an additional 834 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of TriMas by 203.5% in the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock valued at $295,000 after buying an additional 8,031 shares during the period. Hedge funds and other institutional investors own 99.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BWS Financial restated a "buy" rating and set a $40.00 price target on shares of TriMas in a research note on Wednesday, April 30th. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st.

Insider Activity

In other news, Director Adrianne Shapira bought 4,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the completion of the acquisition, the director owned 8,476 shares of the company's stock, valued at approximately $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shawn Sedaghat bought 72,937 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $26.16 per share, for a total transaction of $1,908,031.92. Following the acquisition, the director owned 1,883,758 shares in the company, valued at approximately $49,279,109.28. This represents a 4.03% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 971,649 shares of company stock worth $24,585,343. Insiders own 14.20% of the company's stock.

TriMas Price Performance

NASDAQ TRS traded up $0.03 during trading hours on Friday, reaching $30.07. 359,091 shares of the company's stock were exchanged, compared to its average volume of 365,150. TriMas Corporation has a one year low of $19.33 and a one year high of $30.54. The stock has a market cap of $1.22 billion, a PE ratio of 39.05 and a beta of 0.63. The company has a current ratio of 2.82, a quick ratio of 1.49 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $27.39 and a 200-day moving average of $24.62.

TriMas (NASDAQ:TRS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $241.67 million during the quarter, compared to analysts' expectations of $235.41 million. TriMas had a net margin of 3.36% and a return on equity of 10.54%. The firm's revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts predict that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, May 6th. TriMas's dividend payout ratio (DPR) is presently 20.78%.

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.