Principal Financial Group Inc. Raises Position in TriMas Corporation $TRS

Key Points

• Principal Financial Group increased its TriMas position by 65.3% in the first quarter, bringing its holdings to 73,249 shares valued at approximately $2.63 million. Institutional investors collectively own 99.42% of TriMas stock.
• TriMas reported quarterly revenue of $168.28 million, up 10.3% year over year and above estimates, but earnings per share of $0.24 fell short of the $0.48 consensus forecast.
• The company declared a quarterly dividend of $0.04 per share, equating to a 0.4% yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $41.50.

Principal Financial Group Inc. raised its position in TriMas Corporation (NASDAQ:TRS - Free Report) by 65.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,249 shares of the industrial products company's stock after buying an additional 28,924 shares during the period. Principal Financial Group Inc. owned about 0.20% of TriMas worth $2,633,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TRS. AdvisorNet Financial Inc acquired a new position in shares of TriMas during the first quarter valued at approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in shares of TriMas during the fourth quarter worth approximately $29,000. Covestor Ltd raised its stake in TriMas by 20,525.0% in the 4th quarter. Covestor Ltd now owns 825 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 821 shares during the last quarter. Quarry LP acquired a new position in TriMas in the 3rd quarter valued at $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in TriMas in the 4th quarter valued at $35,000. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Price Performance

NASDAQ:TRS opened at $39.33 on Thursday. TriMas Corporation has a one year low of $30.43 and a one year high of $45.42. The stock has a market cap of $1.41 billion, a PE ratio of 1.63 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.50 and a current ratio of 4.85. The stock has a 50 day moving average price of $41.31 and a 200 day moving average price of $38.36.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.24). The company had revenue of $168.28 million for the quarter, compared to analyst estimates of $158.24 million. TriMas had a return on equity of 8.38% and a net margin of 93.79%.The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.46 EPS. Equities research analysts expect that TriMas Corporation will post 1.67 EPS for the current fiscal year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, August 6th. TriMas's payout ratio is currently 0.66%.

Wall Street Analysts Forecast Growth

TRS has been the subject of a number of research reports. Weiss Ratings raised shares of TriMas from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Zacks Research raised shares of TriMas from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.50.

Insider Activity at TriMas

In other news, Director Herbert K. Parker sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $45.03, for a total transaction of $675,450.00. Following the transaction, the director owned 57,762 shares of the company's stock, valued at approximately $2,601,022.86. The trade was a 20.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by corporate insiders.

About TriMas

TriMas Corporation is a diversified industrial company headquartered in Bloomfield Hills, Michigan. Established in 1980, TriMas has built a global reputation for designing and manufacturing specialized products that serve a wide array of end markets. The company operates through multiple segments, each focused on high-demand niches where engineered solutions and rigorous quality standards are essential.

The Packaging segment supplies closures, dispensing systems and related components for the personal care, household chemicals, food and beverage, and pharmaceutical markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.