Wellington Management Group LLP Trims Stake in TriMas Co. (NASDAQ:TRS)

Wellington Management Group LLP lowered its holdings in TriMas Co. (NASDAQ:TRS - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,449,616 shares of the industrial products company's stock after selling 169,743 shares during the quarter. Wellington Management Group LLP owned 6.04% of TriMas worth $60,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRS. Vanguard Group Inc. raised its position in TriMas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,895,946 shares of the industrial products company's stock valued at $95,801,000 after purchasing an additional 82,068 shares during the period. Bank of America Corp DE raised its holdings in shares of TriMas by 127.3% in the 4th quarter. Bank of America Corp DE now owns 3,513,638 shares of the industrial products company's stock valued at $86,400,000 after buying an additional 1,967,738 shares during the period. Bellecapital International Ltd. purchased a new stake in shares of TriMas in the 4th quarter valued at $29,160,000. Medina Value Partners LLC increased its stake in TriMas by 2.9% during the fourth quarter. Medina Value Partners LLC now owns 1,034,882 shares of the industrial products company's stock worth $25,448,000 after purchasing an additional 28,851 shares during the period. Finally, Advisory Research Inc. increased its stake in TriMas by 41.2% during the fourth quarter. Advisory Research Inc. now owns 754,089 shares of the industrial products company's stock worth $18,543,000 after purchasing an additional 220,000 shares during the period. Hedge funds and other institutional investors own 99.42% of the company's stock.

TriMas Stock Down 1.0%

NASDAQ TRS traded down $0.27 during trading hours on Friday, hitting $26.35. 331,894 shares of the company were exchanged, compared to its average volume of 333,695. The company has a 50 day moving average of $23.20 and a two-hundred day moving average of $24.03. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. TriMas Co. has a 52-week low of $19.33 and a 52-week high of $28.51. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 41.17 and a beta of 0.58.

TriMas (NASDAQ:TRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The company had revenue of $241.67 million for the quarter, compared to the consensus estimate of $235.41 million. During the same quarter in the prior year, the business earned $0.37 EPS. TriMas's revenue was up 6.4% on a year-over-year basis. Equities research analysts anticipate that TriMas Co. will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.61%. TriMas's dividend payout ratio is currently 20.78%.

Insider Activity at TriMas

In other TriMas news, CFO Scott A. Mell sold 2,218 shares of TriMas stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total value of $49,993.72. Following the sale, the chief financial officer now owns 26,288 shares of the company's stock, valued at approximately $592,531.52. The trade was a 7.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shawn Sedaghat acquired 72,937 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $26.16 per share, for a total transaction of $1,908,031.92. Following the acquisition, the director now directly owns 1,883,758 shares in the company, valued at $49,279,109.28. This represents a 4.03% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 1,770,195 shares of company stock valued at $43,736,754 in the last ninety days. Insiders own 14.20% of the company's stock.

Analyst Ratings Changes

TRS has been the topic of a number of recent research reports. Wall Street Zen lowered shares of TriMas from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. BWS Financial reaffirmed a "buy" rating and set a $40.00 target price on shares of TriMas in a research note on Wednesday, April 30th.

About TriMas

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.