Northern Trust Corp Reduces Holdings in TriMas Corporation $TRS

Key Points

• Northern Trust Corp reduced its stake in TriMas Corporation by 3.3%, now holding 384,922 shares valued at approximately $9 million, while several other institutional investors also adjusted their positions.
• TriMas received several positive ratings upgrades from analysts, including a rating change by Zacks Research from "hold" to "strong-buy" and a shared price target of $45.00 set by multiple firms.
• The company reported better-than-expected earnings of $0.61 per share and a revenue of $274.76 million for the previous quarter, marking a 14.2% increase in revenue year-over-year.

Northern Trust Corp reduced its position in shares of TriMas Corporation (NASDAQ:TRS - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,922 shares of the industrial products company's stock after selling 13,291 shares during the period. Northern Trust Corp owned 0.95% of TriMas worth $9,019,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of TriMas during the 4th quarter worth about $50,000. ProShare Advisors LLC acquired a new stake in shares of TriMas during the 4th quarter worth about $281,000. GAMMA Investing LLC lifted its holdings in shares of TriMas by 3,802.9% during the 1st 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. Point72 Asset Management L.P. purchased a new position in shares of TriMas during the 4th quarter worth about $430,000. Finally, US Bancorp DE lifted its holdings in shares of TriMas by 54.4% during the 1st 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 and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRS. Zacks Research upgraded shares of TriMas from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. BWS Financial reiterated a "buy" rating and set a $45.00 price objective (up from $40.00) on shares of TriMas in a report on Wednesday, July 30th. KeyCorp set a $45.00 price objective on shares of TriMas and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $45.00.

TriMas Trading Up 2.1%

NASDAQ TRS traded up $0.79 during mid-day trading on Thursday, hitting $39.20. The company's stock had a trading volume of 744,689 shares, compared to its average volume of 536,134. TriMas Corporation has a 52-week low of $19.33 and a 52-week high of $39.71. The stock's fifty day simple moving average is $34.89 and its two-hundred day simple moving average is $27.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.44. The firm has a market capitalization of $1.59 billion, a P/E ratio of 43.08 and a beta of 0.65.

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

TriMas Announces Dividend

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