Point72 Asset Management L.P. Acquires Shares of 17,476 TriMas Co. (NASDAQ:TRS)

Point72 Asset Management L.P. acquired a new position in TriMas Co. (NASDAQ:TRS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,476 shares of the industrial products company's stock, valued at approximately $430,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRS. Bank of America Corp DE raised 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 buying an additional 1,967,738 shares in the last quarter. Bellecapital International Ltd. purchased a new stake in shares of TriMas in the fourth quarter worth $29,160,000. Raymond James Financial Inc. purchased a new stake in shares of TriMas in the fourth quarter worth $6,698,000. Kennedy Capital Management LLC raised its position in TriMas by 94.8% during the fourth quarter. Kennedy Capital Management LLC now owns 485,721 shares of the industrial products company's stock valued at $11,944,000 after purchasing an additional 236,346 shares in the last quarter. Finally, Advisory Research Inc. raised its position in TriMas by 41.2% during the fourth quarter. Advisory Research Inc. now owns 754,089 shares of the industrial products company's stock valued at $18,543,000 after purchasing an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company's stock.

TriMas Price Performance

NASDAQ TRS traded up $0.04 during trading hours on Thursday, reaching $26.55. 34,513 shares of the stock traded hands, compared to its average volume of 331,530. The stock has a 50 day simple moving average of $23.09 and a two-hundred day simple moving average of $24.04. TriMas Co. has a 1 year low of $19.33 and a 1 year high of $28.51. 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 company has a market cap of $1.08 billion, a price-to-earnings ratio of 41.52 and a beta of 0.58.

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

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were paid a dividend of $0.04 per share. 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 0.60%. TriMas's dividend payout ratio (DPR) is currently 20.78%.

Wall Street Analysts Forecast Growth

TRS has been the topic of a number of research reports. Wall Street Zen downgraded TriMas from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. BWS Financial restated a "buy" rating and set a $40.00 price target on shares of TriMas in a research report on Wednesday, April 30th.

Insider Activity

In other TriMas news, Director Shawn Sedaghat bought 249,597 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $23.83 per share, with a total value of $5,947,896.51. Following the completion of the purchase, the director now directly owns 346,825 shares of the company's stock, valued at $8,264,839.75. This trade represents a 256.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Scott A. Mell sold 2,218 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.54, for a total value of $49,993.72. Following the completion of the sale, the chief financial officer now directly owns 26,288 shares in the company, valued at $592,531.52. The trade was a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,772,695 shares of company stock valued at $43,788,704. 14.20% of the stock is currently owned by insiders.

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.