Pzena Investment Management LLC Purchases 42,207 Shares of TriMas Corporation $TRS

Key Points

• Pzena Investment Management LLC increased its stake in TriMas Corporation by 2.0%, acquiring 42,207 additional shares, bringing its total ownership to 2,177,761 shares valued at approximately $62.3 million.
• TriMas reported earnings of $0.61 per share for the latest quarter, exceeding analysts' expectations of $0.50, alongside a 14.2% increase in revenue compared to the previous year.
• Analysts have issued a consensus price target of $45.00 for TriMas, with multiple brokerages reaffirming a "buy" or "strong-buy" rating based on positive earnings performance and prospects.

Pzena Investment Management LLC lifted its position in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,177,761 shares of the industrial products company's stock after purchasing an additional 42,207 shares during the period. Pzena Investment Management LLC owned 5.36% of TriMas worth $62,306,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TRS. Apexium Financial LP bought a new stake in TriMas in the second quarter worth about $243,000. Comerica Bank raised its position in TriMas by 214.5% in the first quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock worth $261,000 after acquiring an additional 7,584 shares during the period. GAMMA Investing LLC raised its position in TriMas by 3,802.9% in the first quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company's stock worth $350,000 after acquiring an additional 14,565 shares during the period. Ancora Advisors LLC bought a new stake in TriMas in the first quarter worth about $351,000. Finally, US Bancorp DE raised its position in TriMas by 54.4% in the first quarter. US Bancorp DE now owns 18,712 shares of the industrial products company's stock worth $438,000 after acquiring an additional 6,596 shares during the period. 99.42% of the stock is owned by institutional investors.

TriMas Stock Performance

NASDAQ TRS opened at $35.84 on Monday. The company's 50 day moving average is $37.86 and its 200-day moving average is $30.22. TriMas Corporation has a 12-month low of $19.33 and a 12-month high of $40.34. The company has a quick ratio of 1.44, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.46 billion, a P/E ratio of 39.38 and a beta of 0.62.

TriMas (NASDAQ:TRS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share (EPS) 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 quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Sell-side analysts predict that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on TRS. BWS Financial reaffirmed 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. Zacks Research raised shares of TriMas from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. Weiss Ratings reissued a "hold (c)" rating on shares of TriMas in a research report on Wednesday, October 8th. Finally, KeyCorp set a $45.00 price target on shares of TriMas and gave the company an "overweight" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $45.00.

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.

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