Northern Trust Corp Cuts Stake 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 TriMas Corporation (NASDAQ:TRS - Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in TriMas by 45.6% in the 4th quarter. Deutsche Bank AG now owns 36,305 shares of the industrial products company's stock valued at $893,000 after acquiring an additional 11,363 shares during the period. GAMMA Investing LLC raised its stake in TriMas by 3,802.9% in the 1st quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company's stock valued at $350,000 after acquiring an additional 14,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TriMas by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company's stock valued at $568,000 after acquiring an additional 834 shares during the period. Envestnet Asset Management Inc. raised its stake in TriMas by 44.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,765 shares of the industrial products company's stock valued at $533,000 after acquiring an additional 7,016 shares during the period. Finally, American Century Companies Inc. increased its position in shares of TriMas by 9.1% during the first quarter. American Century Companies Inc. now owns 86,017 shares of the industrial products company's stock valued at $2,015,000 after buying an additional 7,141 shares during the period. 99.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

TriMas Price Performance

Shares of NASDAQ TRS traded up $0.37 during midday trading on Monday, hitting $39.10. 761,132 shares of the company's stock were exchanged, compared to its average volume of 534,913. TriMas Corporation has a 12-month low of $19.33 and a 12-month high of $39.71. The company has a current ratio of 2.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 42.97 and a beta of 0.65. The business's fifty day moving average price is $34.35 and its two-hundred day moving average price is $27.69.

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

TriMas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. TriMas's payout ratio 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.