First Manhattan CO. LLC. Decreases Stock Position in TriMas Co. (NASDAQ:TRS)

First Manhattan CO. LLC. reduced its stake in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,537 shares of the industrial products company's stock after selling 18,970 shares during the period. First Manhattan CO. LLC. owned 0.90% of TriMas worth $8,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRS. Sterling Capital Management LLC lifted its stake in shares of TriMas by 815.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock valued at $32,000 after buying an additional 1,158 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of TriMas during the fourth quarter valued at approximately $202,000. Quantbot Technologies LP lifted its stake in shares of TriMas by 203.5% during the fourth quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 8,031 shares during the period. Aquatic Capital Management LLC bought a new position in shares of TriMas in the 4th quarter valued at about $359,000. Finally, MetLife Investment Management LLC grew its holdings in TriMas by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company's stock worth $610,000 after acquiring an additional 1,378 shares during the period. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TriMas

In related news, Director Jeffrey A. Fielkow bought 2,500 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $20.78 per share, with a total value of $51,950.00. Following the purchase, the director now owns 11,013 shares in the company, valued at approximately $228,850.14. The trade was a 29.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shawn Sedaghat acquired 123,388 shares of the stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average cost of $23.83 per share, with a total value of $2,940,336.04. Following the completion of the purchase, the director now owns 1,024,362 shares of the company's stock, valued at approximately $24,410,546.46. The trade was a 13.69% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 929,634 shares of company stock valued at $22,278,549 over the last ninety days. Corporate insiders own 14.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a "buy" rating and set a $40.00 price target on shares of TriMas in a research report on Wednesday, April 30th.

TriMas Price Performance

NASDAQ TRS traded down $0.41 during midday trading on Tuesday, hitting $24.13. The company had a trading volume of 347,841 shares, compared to its average volume of 321,728. The company has a market capitalization of $980.93 million, a PE ratio of 37.70 and a beta of 0.58. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. TriMas Co. has a twelve month low of $19.33 and a twelve month high of $28.51. The firm has a 50-day moving average price of $22.84 and a 200-day moving average price of $24.12.

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

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.66%. TriMas's dividend payout ratio is presently 20.78%.

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.