Point72 Asset Management L.P. Takes $430,000 Position in TriMas Co. (NASDAQ:TRS)

Point72 Asset Management L.P. bought a new stake in shares of TriMas Co. (NASDAQ:TRS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,476 shares of the industrial products company's stock, valued at approximately $430,000.

Several other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in TriMas by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company's stock valued at $982,000 after acquiring an additional 1,227 shares during the period. 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 valued at $6,052,000 after acquiring an additional 11,125 shares during the period. Bellecapital International Ltd. purchased a new position in TriMas during the 4th quarter valued at about $29,160,000. Charles Schwab Investment Management Inc. lifted its position 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 valued at $14,889,000 after acquiring an additional 22,656 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in TriMas during the 4th quarter valued at about $6,698,000. Hedge funds and other institutional investors own 99.42% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on TRS. BWS Financial reaffirmed a "buy" rating and issued a $40.00 target price on shares of TriMas in a report on Wednesday, April 30th. Wall Street Zen lowered shares of TriMas from a "buy" rating to a "hold" rating in a research note on Saturday.

Insider Transactions at TriMas

In other news, Director Jeffrey A. Fielkow acquired 2,500 shares of the business's stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the completion of the transaction, the director now directly owns 11,013 shares of the company's stock, valued at approximately $228,850.14. The trade was a 29.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Sedaghat acquired 72,937 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $26.16 per share, for a total transaction of $1,908,031.92. Following the transaction, the director now directly owns 1,883,758 shares of the company's stock, valued at approximately $49,279,109.28. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,772,695 shares of company stock valued at $43,788,704. 14.20% of the stock is currently owned by corporate insiders.

TriMas Stock Performance

NASDAQ TRS traded up $1.15 during trading hours on Tuesday, hitting $26.57. 332,995 shares of the company's stock traded hands, compared to its average volume of 332,620. The business's fifty day moving average price is $23.01 and its two-hundred day moving average price is $24.01. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.08 billion, a P/E ratio of 41.52 and a beta of 0.58. TriMas Co. has a 52 week low of $19.33 and a 52 week high of $28.51.

TriMas (NASDAQ:TRS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company 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 firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. Equities research analysts predict that TriMas Co. will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a $0.04 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. TriMas's payout ratio is currently 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.