Martingale Asset Management L P Cuts Stake in TriMas Co. (NASDAQ:TRS)

Martingale Asset Management L P cut its holdings in shares of TriMas Co. (NASDAQ:TRSGet Rating) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,435 shares of the industrial products company’s stock after selling 455 shares during the quarter. Martingale Asset Management L P owned 0.10% of TriMas worth $1,299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in TriMas by 2.8% during the 4th 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 during the period. American Century Companies Inc. grew its holdings in shares of TriMas by 22.1% in the fourth quarter. American Century Companies Inc. now owns 34,475 shares of the industrial products company’s stock worth $1,276,000 after purchasing an additional 6,247 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of TriMas in the fourth quarter worth approximately $349,000. Bank of America Corp DE raised its holdings in TriMas by 10.2% during the 4th quarter. Bank of America Corp DE now owns 362,733 shares of the industrial products company’s stock valued at $13,421,000 after buying an additional 33,476 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in TriMas during the 4th quarter valued at $33,000.

Insiders Place Their Bets

In related news, insider John Philip Schaefer sold 6,800 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $29.91, for a total value of $203,388.00. Following the sale, the insider now directly owns 11,087 shares of the company’s stock, valued at $331,612.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

TriMas Trading Down 0.3 %

NASDAQ TRS opened at $26.81 on Friday. The stock has a market cap of $1.13 billion, a P/E ratio of 17.30 and a beta of 0.70. TriMas Co. has a fifty-two week low of $23.85 and a fifty-two week high of $38.72. The stock has a 50 day simple moving average of $28.07 and a two-hundred day simple moving average of $29.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 2.48.

TriMas (NASDAQ:TRSGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The industrial products company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. The company had revenue of $237.70 million during the quarter, compared to analyst estimates of $238.92 million. TriMas had a return on equity of 12.74% and a net margin of 7.44%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. On average, analysts forecast that TriMas Co. will post 2.27 earnings per share for the current year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Thursday, August 4th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Wednesday, August 3rd. TriMas’s payout ratio is currently 10.32%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of TriMas from a “hold” rating to a “buy” rating in a research report on Tuesday, August 16th.

About TriMas

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for TriMas (NASDAQ:TRS)

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