Simcoe Capital Management LLC Invests $6.45 Million in TriMas Corporation $TRS

Key Points

• Simcoe Capital Management LLC acquired 275,320 shares of TriMas Corporation valued at approximately $6.45 million, making TriMas 1.2% of their investment portfolio.
• TriMas recently reported an earnings per share (EPS) of $0.61 for the last quarter, significantly exceeding the consensus estimate of $0.50.
• Analysts maintain a consensus "Buy" rating for TriMas with a price target set at $45.00, reflecting positive outlook and confidence in the company's growth trajectory.

Simcoe Capital Management LLC purchased a new position in TriMas Corporation (NASDAQ:TRS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 275,320 shares of the industrial products company's stock, valued at approximately $6,451,000. TriMas accounts for approximately 1.2% of Simcoe Capital Management LLC's investment portfolio, making the stock its 14th largest holding. Simcoe Capital Management LLC owned about 0.68% of TriMas at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TRS. State of Wyoming purchased a new stake in shares of TriMas in the 4th quarter worth approximately $50,000. Comerica Bank lifted its position in shares of TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock worth $261,000 after purchasing an additional 7,584 shares during the period. ProShare Advisors LLC purchased a new stake in shares of TriMas in the 4th quarter worth approximately $281,000. GAMMA Investing LLC lifted its position in shares of TriMas by 3,802.9% in the 1st quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company's stock worth $350,000 after purchasing an additional 14,565 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of TriMas in the 4th quarter worth approximately $359,000. Hedge funds and other institutional investors own 99.42% of the company's stock.

Wall Street Analyst Weigh In

TRS has been the subject of several research reports. Wall Street Zen raised shares of TriMas from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. KeyCorp set a $45.00 target price on shares of TriMas and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Finally, BWS Financial reissued a "buy" rating and set a $45.00 target price (up previously from $40.00) on shares of TriMas in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, TriMas currently has a consensus rating of "Buy" and an average price target of $45.00.

Insider Activity

In related news, Director Adrianne Shapira purchased 4,000 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $25.82 per share, with a total value of $103,280.00. Following the completion of the acquisition, the director owned 8,476 shares in the company, valued at approximately $218,850.32. This represents a 89.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired a total of 5,266 shares of company stock valued at $137,188 over the last three months. Company insiders own 14.20% of the company's stock.

TriMas Stock Down 0.3%

NASDAQ:TRS traded down $0.10 during midday trading on Friday, reaching $38.67. 499,103 shares of the stock traded hands, compared to its average volume of 550,682. The business has a 50-day moving average of $33.07 and a two-hundred day moving average of $27.05. The stock has a market capitalization of $1.57 billion, a PE ratio of 42.49 and a beta of 0.65. TriMas Corporation has a 12-month low of $19.33 and a 12-month high of $39.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 2.59.

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, topping analysts' consensus estimates of $0.50 by $0.11. The business had revenue of $274.76 million during the quarter, compared to analysts' expectations of $251.18 million. TriMas had a net margin of 3.83% and a return on equity of 11.49%. The business's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. On average, equities analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

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

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.