Voya Investment Management LLC Sells 1,198 Shares of TriMas Co. (NASDAQ:TRS)

Voya Investment Management LLC trimmed its position in TriMas Co. (NASDAQ:TRS) by 8.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,304 shares of the industrial products company’s stock after selling 1,198 shares during the quarter. Voya Investment Management LLC’s holdings in TriMas were worth $303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in TriMas by 341.3% in the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock worth $1,755,000 after buying an additional 53,203 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of TriMas by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock valued at $982,000 after acquiring an additional 1,227 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of TriMas by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company’s stock worth $14,889,000 after acquiring an additional 22,656 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TriMas by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company’s stock worth $6,052,000 after purchasing an additional 11,125 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in TriMas by 1.8% during the fourth quarter. First Eagle Investment Management LLC now owns 257,506 shares of the industrial products company’s stock valued at $6,332,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 99.42% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and issued a $40.00 target price on shares of TriMas in a report on Wednesday, April 30th.

TriMas Trading Down 1.4%

NASDAQ:TRS opened at $24.18 on Monday. The stock has a market capitalization of $982.97 million, a price-to-earnings ratio of 37.78 and a beta of 0.58. TriMas Co. has a 52 week low of $19.33 and a 52 week high of $28.51. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $22.80 and a 200 day moving average of $24.14.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $241.67 million for the quarter, compared to the consensus estimate of $235.41 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts anticipate that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. TriMas’s payout ratio is currently 20.78%.

Insider Activity

In other TriMas news, Director Shawn Sedaghat bought 554,149 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $24.07 per share, for a total transaction of $13,338,366.43. Following the completion of the transaction, the director now directly owns 900,974 shares of the company’s stock, valued at approximately $21,686,444.18. This trade represents a 159.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott A. Mell sold 2,218 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the completion of the sale, the chief financial officer now directly owns 26,288 shares in the company, valued at approximately $592,531.52. The trade was a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 929,634 shares of company stock valued at $22,278,549 over the last ninety days. 14.20% of the stock is currently 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.