Raymond James Financial Inc. Invests $6.70 Million in TriMas Co. (NASDAQ:TRS)

Raymond James Financial Inc. purchased a new position in shares of TriMas Co. (NASDAQ:TRS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 272,381 shares of the industrial products company's stock, valued at approximately $6,698,000. Raymond James Financial Inc. owned 0.67% of TriMas as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TRS. Wells Fargo & Company MN lifted its holdings in shares of TriMas by 21.1% in the 4th quarter. Wells Fargo & Company MN now owns 37,729 shares of the industrial products company's stock worth $928,000 after acquiring an additional 6,573 shares during the last quarter. ExodusPoint Capital Management LP grew its holdings in shares of TriMas by 28.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 103,724 shares of the industrial products company's stock worth $2,551,000 after purchasing an additional 23,044 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in TriMas by 38.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 255,560 shares of the industrial products company's stock worth $6,284,000 after buying an additional 71,088 shares during the period. Norges Bank acquired a new position in TriMas in the fourth quarter valued at $3,602,000. Finally, Vanguard Group Inc. grew its stake in shares of TriMas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,895,946 shares of the industrial products company's stock valued at $95,801,000 after purchasing an additional 82,068 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a "buy" rating and issued a $40.00 target price on shares of TriMas in a report on Friday, February 28th.

TriMas Stock Up 10.8 %

Shares of NASDAQ TRS traded up $2.27 during midday trading on Tuesday, reaching $23.26. 119,199 shares of the company's stock were exchanged, compared to its average volume of 312,496. The stock has a market capitalization of $947.14 million, a PE ratio of 36.71 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. TriMas Co. has a 52-week low of $19.33 and a 52-week high of $28.51. The business's fifty day moving average price is $22.34 and its two-hundred day moving average price is $24.36.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. TriMas had a net margin of 2.93% and a return on equity of 9.21%. During the same quarter in the prior year, the business posted $0.37 EPS. TriMas's revenue was up 6.4% compared to the same quarter last year. Analysts forecast that TriMas Co. will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 6th. TriMas's dividend payout ratio is 27.12%.

Insider Activity

In other news, CFO Scott A. Mell sold 2,218 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the sale, the chief financial officer now owns 26,288 shares of the company's stock, valued at $592,531.52. This trade represents a 7.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Fielkow acquired 2,500 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $20.78 per share, with a total value of $51,950.00. Following the transaction, the director now directly owns 11,013 shares of the company's stock, valued at $228,850.14. This represents a 29.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 806,246 shares of company stock valued at $19,338,213. 14.20% of the stock is owned by insiders.

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.