First Manhattan CO. LLC. Reduces Stake in TriMas Co. (NASDAQ:TRS)

First Manhattan CO. LLC. lessened its position in shares of TriMas Co. (NASDAQ:TRS) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 363,537 shares of the industrial products company’s stock after selling 18,970 shares during the quarter. First Manhattan CO. LLC. owned 0.90% of TriMas worth $8,939,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TRS. Barclays PLC increased its position 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. grew its stake in shares of TriMas by 3.3% during 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. increased its holdings in 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 raised its stake in 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 acquiring an additional 11,125 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings 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.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and set a $40.00 price objective on shares of TriMas in a research report on Wednesday, April 30th.

TriMas Stock Down 1.4 %

Shares of TRS opened at $24.18 on Friday. The business’s 50 day moving average is $22.80 and its 200 day moving average is $24.19. 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 12-month low of $19.33 and a 12-month high of $28.51. The company has a market capitalization of $982.97 million, a PE ratio of 37.78 and a beta of 0.58.

TriMas (NASDAQ:TRS) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The firm had revenue of $241.67 million for the quarter, compared to analysts’ expectations of $235.41 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts expect that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. TriMas’s dividend payout ratio (DPR) is 20.78%.

Insider Buying and Selling

In other news, CFO Scott A. Mell sold 2,218 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the sale, the chief financial officer now directly owns 26,288 shares in the company, valued at approximately $592,531.52. This represents a 7.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shawn Sedaghat purchased 123,388 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was bought at an average price of $23.83 per share, with a total value of $2,940,336.04. Following the transaction, the director now owns 1,024,362 shares of the company’s stock, valued at $24,410,546.46. This represents a 13.69 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 929,634 shares of company stock worth $22,278,549. Corporate insiders own 14.20% of the company’s stock.

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.