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

Millennium Management LLC decreased its stake in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 89.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TRS. 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 buying an additional 11,125 shares in the last quarter. Bellecapital International Ltd. bought a new stake in TriMas during the 4th quarter worth about $29,160,000. Charles Schwab Investment Management Inc. raised its holdings in TriMas by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company's stock worth $14,889,000 after purchasing an additional 22,656 shares during the last quarter. Raymond James Financial Inc. bought a new stake in TriMas during the 4th quarter worth about $6,698,000. Finally, First Eagle Investment Management LLC raised its holdings 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 purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

TriMas Trading Down 1.0%

NASDAQ:TRS traded down $0.28 on Thursday, hitting $27.35. 351,700 shares of the stock were exchanged, compared to its average volume of 342,992. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 42.74 and a beta of 0.61. TriMas Co. has a 52 week low of $19.33 and a 52 week high of $28.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. The company's 50-day moving average price is $23.74 and its 200 day moving average price is $24.04.

TriMas (NASDAQ:TRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $241.67 million during the quarter, compared to analysts' expectations of $235.41 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. TriMas's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, equities research analysts forecast that TriMas Co. will post 1.69 earnings per share for the current year.

TriMas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.59%. TriMas's dividend payout ratio (DPR) is presently 20.78%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. BWS Financial reissued a "buy" rating and set a $40.00 price objective on shares of TriMas in a report on Wednesday, April 30th.

Insider Activity

In related news, Director Shawn Sedaghat bought 72,937 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average cost of $26.16 per share, for a total transaction of $1,908,031.92. Following the acquisition, the director now owns 1,883,758 shares of the company's stock, valued at approximately $49,279,109.28. This represents a 4.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Adrianne Shapira bought 1,200 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were bought at an average price of $26.31 per share, for a total transaction of $31,572.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders purchased a total of 971,649 shares of company stock valued at $24,585,343 in the last ninety days. 14.20% of the stock is owned by insiders.

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.