Penn Capital Management Company LLC Grows Position in TriMas Co. (NASDAQ:TRS)

Penn Capital Management Company LLC boosted its holdings in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 300.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,068 shares of the industrial products company's stock after buying an additional 105,084 shares during the quarter. Penn Capital Management Company LLC owned 0.35% of TriMas worth $3,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRS. Sterling Capital Management LLC increased its holdings in shares of TriMas by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 1,158 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of TriMas in the 4th quarter valued at $202,000. Quantbot Technologies LP raised its stake in TriMas by 203.5% during the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock worth $295,000 after acquiring an additional 8,031 shares in the last quarter. MetLife Investment Management LLC lifted its position in TriMas by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company's stock valued at $610,000 after acquiring an additional 1,378 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in TriMas by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,993 shares of the industrial products company's stock valued at $689,000 after acquiring an additional 2,703 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company's stock.

Analyst Ratings Changes

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

TriMas Stock Performance

TRS stock traded up $2.73 on Tuesday, hitting $23.72. The company's stock had a trading volume of 416,489 shares, compared to its average volume of 313,560. The stock has a market cap of $965.62 million, a price-to-earnings ratio of 37.08 and a beta of 0.55. The firm has a 50 day moving average of $22.34 and a two-hundred day moving average of $24.36. 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 1 year low of $19.33 and a 1 year high of $28.51.

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

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.67%. TriMas's dividend payout ratio is currently 27.12%.

Insiders Place Their Bets

In other news, CFO Scott A. Mell sold 2,218 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the completion of the transaction, the chief financial officer now directly owns 26,288 shares of the company's stock, valued at approximately $592,531.52. This represents a 7.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shawn Sedaghat purchased 554,149 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the completion of the purchase, the director now owns 900,974 shares of the company's stock, valued at approximately $21,686,444.18. This represents a 159.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 806,246 shares of company stock worth $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.