Millennium Management LLC Has $473,000 Stake in TriMas Co. (NASDAQ:TRS)

Millennium Management LLC cut its stake in TriMas Co. (NASDAQ:TRS - Free Report) by 89.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,225 shares of the industrial products company's stock after selling 157,660 shares during the period. Millennium Management LLC's holdings in TriMas were worth $473,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in TriMas by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company's stock worth $6,052,000 after acquiring an additional 11,125 shares during the period. Bellecapital International Ltd. purchased a new position in TriMas in the 4th quarter valued at $29,160,000. Charles Schwab Investment Management Inc. increased its stake in TriMas by 3.9% in the 4th 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 period. Raymond James Financial Inc. purchased a new position in TriMas during the 4th quarter worth $6,698,000. Finally, First Eagle Investment Management LLC raised its position in TriMas by 1.8% during the 4th quarter. First Eagle Investment Management LLC now owns 257,506 shares of the industrial products company's stock worth $6,332,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at TriMas

In other TriMas news, Director Adrianne Shapira bought 1,200 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were purchased at an average price of $26.31 per share, for a total transaction of $31,572.00. Following the transaction, the director now directly owns 4,476 shares in the company, valued at approximately $117,763.56. This trade represents a 36.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shawn Sedaghat bought 123,388 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $23.83 per share, for a total transaction of $2,940,336.04. Following the completion of the acquisition, the director now owns 1,024,362 shares in the company, valued at approximately $24,410,546.46. This trade represents a 13.69% increase in their ownership of the stock. 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 TRS stock traded down $0.54 during trading hours on Friday, reaching $26.81. The stock had a trading volume of 276,250 shares, compared to its average volume of 407,247. The firm has a 50-day simple moving average of $23.87 and a 200-day simple moving average of $24.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The firm has a market capitalization of $1.09 billion, a PE ratio of 41.89 and a beta of 0.61. TriMas Co. has a twelve month low of $19.33 and a twelve month high of $28.51.

TriMas (NASDAQ:TRS - Get Free Report) last released its 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. The business had revenue of $241.67 million during the quarter, compared to analyst estimates of $235.41 million. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, equities analysts forecast that TriMas Co. 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. Investors of record on Tuesday, May 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date 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.