Invenomic Capital Management LP Purchases New Holdings in TriMas Co. (NASDAQ:TRS)

Invenomic Capital Management LP acquired a new position in TriMas Co. (NASDAQ:TRS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 143,152 shares of the industrial products company’s stock, valued at approximately $3,655,000. Invenomic Capital Management LP owned 0.35% of TriMas at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of TriMas by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,870 shares of the industrial products company’s stock worth $639,000 after acquiring an additional 1,478 shares during the period. Diversified Trust Co boosted its holdings in TriMas by 5.0% during the second quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock valued at $581,000 after purchasing an additional 1,072 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in TriMas by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 262,294 shares of the industrial products company’s stock valued at $6,704,000 after purchasing an additional 19,849 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of TriMas in the 2nd quarter valued at approximately $26,000. Finally, Rhumbline Advisers raised its holdings in shares of TriMas by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 69,328 shares of the industrial products company’s stock worth $1,772,000 after buying an additional 985 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

TriMas Stock Performance

NASDAQ:TRS opened at $26.57 on Wednesday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 41.52 and a beta of 0.66. 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 $22.45 and a 1 year high of $28.51. The firm has a 50 day moving average of $26.48 and a 200-day moving average of $25.82.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.14). TriMas had a net margin of 2.93% and a return on equity of 9.21%. The business had revenue of $229.36 million during the quarter, compared to the consensus estimate of $239.33 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Tuesday, November 5th. TriMas’s dividend payout ratio is presently 25.00%.

Analysts Set New Price Targets

TRS has been the topic of a number of analyst reports. StockNews.com upgraded TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. BWS Financial reaffirmed a “buy” rating and issued a $40.00 target price on shares of TriMas in a report on Tuesday, November 5th.

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.