Teacher Retirement System of Texas raised its stake in TriMas Co. (NASDAQ:TRS – Get Rating) by 5.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,875 shares of the industrial products company’s stock after purchasing an additional 497 shares during the quarter. Teacher Retirement System of Texas’ holdings in TriMas were worth $285,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in shares of TriMas by 2.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,461 shares of the industrial products company’s stock valued at $905,000 after acquiring an additional 666 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of TriMas during the fourth quarter valued at approximately $33,000. Diversified Trust Co grew its stake in TriMas by 8.3% in the first quarter. Diversified Trust Co now owns 19,250 shares of the industrial products company’s stock worth $618,000 after purchasing an additional 1,475 shares during the period. Pinebridge Investments L.P. purchased a new stake in TriMas in the fourth quarter worth $81,000. Finally, Yarbrough Capital LLC grew its stake in TriMas by 20.8% in the first quarter. Yarbrough Capital LLC now owns 13,122 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 2,262 shares during the period.
TriMas Trading Down 3.9 %
TriMas stock opened at $28.13 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.48 and a quick ratio of 1.42. TriMas Co. has a one year low of $23.85 and a one year high of $38.72. The stock has a market capitalization of $1.18 billion, a PE ratio of 18.15 and a beta of 0.70. The business’s fifty day moving average is $27.97 and its 200 day moving average is $29.57.
TriMas (NASDAQ:TRS – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The industrial products company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. TriMas had a return on equity of 12.74% and a net margin of 7.44%. The company had revenue of $237.70 million for the quarter, compared to analysts’ expectations of $238.92 million. During the same period last year, the firm posted $0.62 earnings per share. TriMas’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts predict that TriMas Co. will post 2.27 EPS for the current year.
TriMas Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, August 4th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Wednesday, August 3rd. TriMas’s dividend payout ratio is 10.32%.
Insider Buying and Selling at TriMas
In other TriMas news, insider John Philip Schaefer sold 6,800 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $29.91, for a total value of $203,388.00. Following the transaction, the insider now owns 11,087 shares of the company’s stock, valued at $331,612.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Separately, StockNews.com raised TriMas from a “hold” rating to a “buy” rating in a research report on Tuesday, August 16th.
TriMas Company Profile
TriMas Corporation designs, develops, manufactures, and sells products for consumer products, aerospace, and industrial markets worldwide. It operates through three segments: Packaging, Aerospace, and Specialty Products. 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, flexible spouts, and agricultural closures; polymeric jar products; integrated dispensers; bag-in-box products; aseptic closures; industrial closures and flex spouts; custom injection molded components and devices; various injection molded products; and single-bodied and assembled caps and closures under the Rieke, Taplast, Affaba & Ferrari, Stolz, Omega, and Rapak brands.
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