ARGA Investment Management LP Acquires 34,198 Shares of TriMas Co. (NASDAQ:TRS)

ARGA Investment Management LP grew its holdings in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 249.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,908 shares of the industrial products company's stock after purchasing an additional 34,198 shares during the quarter. ARGA Investment Management LP owned about 0.12% of TriMas worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of TriMas during the 4th quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in TriMas by 31.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company's stock valued at $225,000 after buying an additional 2,173 shares during the last quarter. Handelsbanken Fonder AB grew its stake in TriMas by 19.8% in the 4th quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company's stock valued at $382,000 after buying an additional 2,500 shares during the last quarter. Summit Trail Advisors LLC grew its stake in TriMas by 5.0% in the 4th quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company's stock valued at $384,000 after buying an additional 716 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in TriMas in the 4th quarter worth $396,000. Institutional investors own 99.42% of the company's stock.

Insider Activity at TriMas

In other news, CEO Thomas A. Amato purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $23.62 per share, with a total value of $236,200.00. Following the acquisition, the chief executive officer now directly owns 286,168 shares of the company's stock, valued at approximately $6,759,288.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Herbert K. Parker bought 1,000 shares of the company's stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $25.98 per share, with a total value of $25,980.00. Following the completion of the purchase, the director now owns 30,057 shares in the company, valued at approximately $780,880.86. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas A. Amato bought 10,000 shares of the company's stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the purchase, the chief executive officer now owns 286,168 shares of the company's stock, valued at approximately $6,759,288.16. The disclosure for this purchase can be found here. Insiders bought 25,681 shares of company stock valued at $647,113 in the last ninety days. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a "buy" rating and issued a $40.00 price target on shares of TriMas in a research report on Wednesday, May 1st.

TriMas Price Performance

Shares of TriMas stock traded up $0.27 during trading on Thursday, hitting $27.80. 197,288 shares of the company's stock traded hands, compared to its average volume of 240,018. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.73 and a quick ratio of 1.41. The firm's fifty day moving average price is $25.95 and its 200 day moving average price is $25.30. TriMas Co. has a twelve month low of $22.59 and a twelve month high of $29.07. The company has a market cap of $1.13 billion, a PE ratio of 28.63 and a beta of 0.71.

TriMas (NASDAQ:TRS - Get Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The business had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. During the same period in the previous year, the business earned $0.30 EPS. The firm's revenue was up 5.4% on a year-over-year basis. Analysts forecast that TriMas Co. will post 1.92 earnings per share for the current year.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.58%. The ex-dividend date was Monday, May 6th. TriMas's dividend payout ratio is currently 16.49%.

TriMas 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.

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