Wellington Management Group LLP Sells 1,087,664 Shares of TriMas Corporation $TRS

Key Points

• Wellington Management Group LLP reduced its holdings in TriMas Corporation by 44.4%, now owning approximately 1.36 million shares valued at about $31.9 million.
• Insider activity showed Director Adrianne Shapira purchased 4,000 shares, increasing her stake by 89.37%, while corporate insiders collectively own 14.20% of TriMas's stock.
• Wall Street analysts rate TriMas as a "Buy" with an average price target of $45, following recent positive earnings reports that exceeded expectations.

Wellington Management Group LLP lowered its position in TriMas Corporation (NASDAQ:TRS - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,361,952 shares of the industrial products company's stock after selling 1,087,664 shares during the quarter. Wellington Management Group LLP owned about 3.35% of TriMas worth $31,911,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in TriMas by 45.6% in the 4th quarter. Deutsche Bank AG now owns 36,305 shares of the industrial products company's stock worth $893,000 after acquiring an additional 11,363 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 worth $350,000 after acquiring an additional 14,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $568,000 after acquiring an additional 834 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings 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 worth $533,000 after acquiring an additional 7,016 shares during the last quarter. Finally, Barclays PLC increased its holdings in TriMas by 51.4% in the 4th quarter. Barclays PLC now owns 104,163 shares of the industrial products company's stock worth $2,560,000 after acquiring an additional 35,371 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TRS. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. BWS Financial reaffirmed a "buy" rating and set a $45.00 target price (up previously from $40.00) on shares of TriMas in a report on Wednesday, July 30th. Finally, KeyCorp set a $45.00 target price on TriMas and gave the company an "overweight" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $45.00.

TriMas Price Performance

Shares of TRS traded down $0.10 during trading hours on Friday, reaching $38.67. 499,103 shares of the company's stock traded hands, compared to its average volume of 551,264. The stock has a market cap of $1.57 billion, a PE ratio of 42.49 and a beta of 0.66. 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 firm's 50 day simple moving average is $33.07 and its 200-day simple moving average is $27.03. TriMas Corporation has a 12 month low of $19.33 and a 12 month high of $39.09.

TriMas (NASDAQ:TRS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.11. The firm had revenue of $274.76 million during the quarter, compared to the consensus estimate of $251.18 million. TriMas had a return on equity of 11.49% and a net margin of 3.83%.The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Equities 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. Stockholders of record on Tuesday, August 5th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, August 5th. TriMas's dividend payout ratio (DPR) is 17.58%.

Insider Activity

In other TriMas news, Director Adrianne Shapira purchased 4,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the transaction, the director owned 8,476 shares in the company, valued at $218,850.32. The trade was a 89.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 5,266 shares of company stock worth $137,188. Company insiders own 14.20% of the company's stock.

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.