Allspring Global Investments Holdings LLC grew its holdings in TriMas Co. (NASDAQ:TRS - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,069,777 shares of the industrial products company's stock after purchasing an additional 422,717 shares during the period. Allspring Global Investments Holdings LLC owned about 7.41% of TriMas worth $77,757,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of TriMas in the 4th quarter valued at $6,443,000. Pzena Investment Management LLC raised its holdings in TriMas by 7.0% in the third quarter. Pzena Investment Management LLC now owns 2,570,194 shares of the industrial products company's stock worth $63,638,000 after purchasing an additional 167,452 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of TriMas by 140.5% during the second quarter. Renaissance Technologies LLC now owns 235,370 shares of the industrial products company's stock valued at $6,517,000 after buying an additional 137,500 shares during the last quarter. Sei Investments Co. grew its position in shares of TriMas by 55.3% in the 1st quarter. Sei Investments Co. now owns 200,904 shares of the industrial products company's stock worth $5,597,000 after buying an additional 71,514 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of TriMas by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,382,524 shares of the industrial products company's stock worth $66,376,000 after buying an additional 61,183 shares during the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com lowered TriMas from a "buy" rating to a "hold" rating in a report on Wednesday, December 13th.
Check Out Our Latest Stock Analysis on TRS
Insider Buying and Selling at TriMas
In other news, CEO Thomas A. Amato bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the transaction, the chief executive officer now directly owns 286,168 shares in the company, valued at $6,759,288.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company's stock.
TriMas Stock Down 1.9 %
Shares of TRS traded down $0.50 during mid-day trading on Wednesday, hitting $25.73. 186,022 shares of the company traded hands, compared to its average volume of 225,755. The company has a market capitalization of $1.05 billion, a PE ratio of 26.53 and a beta of 0.71. The company has a quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $25.26 and a 200 day moving average of $24.93. TriMas Co. has a 1-year low of $22.59 and a 1-year high of $29.07.
TriMas (NASDAQ:TRS - Get Free Report) last released its earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). The company had revenue of $209.60 million for the quarter, compared to analysts' expectations of $246.44 million. TriMas had a return on equity of 8.85% and a net margin of 4.52%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. Equities research analysts anticipate that TriMas Co. will post 1.94 EPS for the current year.
TriMas Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. TriMas's dividend payout ratio is currently 16.49%.
TriMas Company Profile
(
Free Report)
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.
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