Nexpoint Asset Management L.P. Takes $2.33 Million Position in TriMas Corporation $TRS

Key Points

• Nexpoint Asset Management L.P. has acquired a $2.33 million stake in TriMas Corporation, purchasing 99,600 shares, which represents 0.25% of the company.
• Analysts have raised their ratings on TriMas, with Zacks upgrading the stock from "hold" to a "strong-buy," and a consensus price target set at $45.00.
• TriMas Corporation reported strong quarterly earnings, with an EPS of $0.61, surpassing estimates, and has set FY 2025 guidance at 1.950-2.100 EPS.

Nexpoint Asset Management L.P. purchased a new stake in TriMas Corporation (NASDAQ:TRS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 99,600 shares of the industrial products company's stock, valued at approximately $2,334,000. Nexpoint Asset Management L.P. owned 0.25% of TriMas as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TRS. Price T Rowe Associates Inc. MD boosted its holdings in shares of TriMas by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,993 shares of the industrial products company's stock valued at $689,000 after buying an additional 2,703 shares during the period. Northern Trust Corp lifted its position in shares of TriMas by 9.9% in the fourth quarter. Northern Trust Corp now owns 398,213 shares of the industrial products company's stock worth $9,792,000 after purchasing an additional 35,798 shares in the last quarter. Bank of America Corp DE lifted its position in shares of TriMas by 127.3% in the fourth quarter. Bank of America Corp DE now owns 3,513,638 shares of the industrial products company's stock worth $86,400,000 after purchasing an additional 1,967,738 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of TriMas in the fourth quarter worth $883,000. Finally, Deutsche Bank AG lifted its position 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 in the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Wall Street Analyst Weigh In

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

TriMas Price Performance

Shares of TRS opened at $39.26 on Friday. The firm has a market capitalization of $1.60 billion, a PE ratio of 43.14 and a beta of 0.65. The company's 50-day moving average is $33.93 and its 200-day moving average is $27.41. TriMas Corporation has a fifty-two week low of $19.33 and a fifty-two week high of $39.27. 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 (NASDAQ:TRS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.11. The company had revenue of $274.76 million for 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%. The company's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Equities analysts forecast that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. TriMas's dividend payout ratio is presently 17.58%.

TriMas 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.

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