Raymond James Financial Inc. Boosts Stock Position in TriMas Corporation $TRS

Key Points

• Raymond James Financial Inc. increased its stake in TriMas Corporation by 34.8%, owning approximately $8.60 million worth of shares after purchasing additional stock in the first quarter.
• TriMas reported earnings of $0.61 per share for the last quarter, exceeding analysts' expectations and marking a 14.2% revenue increase year-over-year to $274.76 million.
• The company recently declared a $0.04 quarterly dividend, reflecting an annualized yield of 0.4%, with a payout ratio currently at 17.58%.

Raymond James Financial Inc. increased its stake in TriMas Corporation (NASDAQ:TRS - Free Report) by 34.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 367,215 shares of the industrial products company's stock after purchasing an additional 94,834 shares during the period. Raymond James Financial Inc. owned approximately 0.90% of TriMas worth $8,604,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in 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. Pzena Investment Management LLC lifted its stake in TriMas by 0.7% in the first quarter. Pzena Investment Management LLC now owns 2,135,554 shares of the industrial products company's stock worth $50,036,000 after acquiring an additional 14,942 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in TriMas by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 614,023 shares of the industrial products company's stock worth $14,387,000 after acquiring an additional 8,521 shares during the period. Northern Trust Corp lifted its stake in 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 acquiring an additional 35,798 shares during the period. Finally, Nuveen LLC purchased a new stake in TriMas in the first quarter worth $5,932,000. 99.42% of the stock is currently owned by institutional investors.

TriMas Stock Performance

Shares of TriMas stock traded up $0.67 during trading on Thursday, hitting $39.26. 525,470 shares of the company's stock traded hands, compared to its average volume of 433,344. 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 Corporation has a 1 year low of $19.33 and a 1 year high of $39.27. The stock has a market capitalization of $1.60 billion, a P/E ratio of 43.14 and a beta of 0.65. The business has a 50-day simple moving average of $33.71 and a 200-day simple moving average of $27.31.

TriMas (NASDAQ:TRS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.11. The business had revenue of $274.76 million for the quarter, compared to analysts' expectations of $251.18 million. TriMas had a return on equity of 11.49% and a net margin of 3.83%.The business's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. As a group, analysts forecast that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Announces Dividend

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

Wall Street Analyst Weigh In

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