Herbert K. Parker Purchases 6,000 Shares of TriMas Co. (NASDAQ:TRS) Stock

TriMas Co. (NASDAQ:TRS) Director Herbert K. Parker acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $26.27 per share, for a total transaction of $157,620.00. Following the purchase, the director now directly owns 51,157 shares of the company’s stock, valued at $1,343,894.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

TriMas Price Performance

Shares of NASDAQ TRS opened at $26.45 on Thursday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 27.27 and a beta of 0.71. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. TriMas Co. has a 52 week low of $22.59 and a 52 week high of $29.07. The firm has a 50-day simple moving average of $25.63 and a 200-day simple moving average of $25.16.

TriMas (NASDAQ:TRS) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.60 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. On average, equities analysts predict that TriMas Co. will post 1.92 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be given a $0.04 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. TriMas’s dividend payout ratio is currently 16.49%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of TriMas in a report on Wednesday, May 1st.

Hedge Funds Weigh In On TriMas

Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its holdings in TriMas by 30.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock worth $1,079,000 after buying an additional 10,098 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of TriMas by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock worth $12,802,000 after acquiring an additional 21,767 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in TriMas by 16.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock valued at $77,757,000 after purchasing an additional 422,717 shares in the last quarter. Vanguard Group Inc. raised its holdings in TriMas by 0.8% during the third quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after purchasing an additional 34,517 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in TriMas by 8.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 102,562 shares of the industrial products company’s stock worth $2,598,000 after purchasing an additional 7,903 shares in the last quarter. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Company 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.