California State Teachers Retirement System Lowers Stake in TriMas Co. (NASDAQ:TRS)

California State Teachers Retirement System cut its position in TriMas Co. (NASDAQ:TRS) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 52,439 shares of the industrial products company’s stock after selling 805 shares during the period. California State Teachers Retirement System owned approximately 0.13% of TriMas worth $1,461,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of TriMas in the fourth quarter worth approximately $6,443,000. Renaissance Technologies LLC grew its position in TriMas by 140.5% during the second quarter. Renaissance Technologies LLC now owns 235,370 shares of the industrial products company’s stock valued at $6,517,000 after buying an additional 137,500 shares during the period. Royce & Associates LP grew its position in TriMas by 16.3% during the first quarter. Royce & Associates LP now owns 772,801 shares of the industrial products company’s stock valued at $21,530,000 after buying an additional 108,134 shares during the period. Teacher Retirement System of Texas grew its position in TriMas by 692.3% during the fourth quarter. Teacher Retirement System of Texas now owns 66,363 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 57,987 shares during the period. Finally, Vanguard Group Inc. grew its position in TriMas by 1.1% during the first quarter. Vanguard Group Inc. now owns 4,080,071 shares of the industrial products company’s stock valued at $130,930,000 after buying an additional 44,136 shares during the period.

TriMas Price Performance

TRS stock opened at $26.12 on Thursday. TriMas Co. has a one year low of $21.41 and a one year high of $31.89. The company’s fifty day moving average price is $26.65 and its 200-day moving average price is $27.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.70. The company has a market capitalization of $1.08 billion, a PE ratio of 22.71 and a beta of 0.72.

TriMas (NASDAQ:TRS) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. TriMas had a net margin of 5.52% and a return on equity of 9.71%. The firm had revenue of $233.19 million for the quarter, compared to the consensus estimate of $255.81 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that TriMas Co. will post 1.91 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, August 3rd were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Wednesday, August 2nd. TriMas’s payout ratio is 13.91%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com started coverage on shares of TriMas in a research report on Thursday, August 17th. They set a “hold” rating for the company. BWS Financial started coverage on shares of TriMas in a research report on Monday, May 22nd. They issued a “buy” rating and a $40.00 price target for the company.

Insider Activity at TriMas

In related news, CFO Scott A. Mell sold 1,200 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $25.80, for a total transaction of $30,960.00. Following the sale, the chief financial officer now owns 25,664 shares of the company’s stock, valued at $662,131.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Scott A. Mell sold 1,200 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $25.80, for a total value of $30,960.00. Following the sale, the chief financial officer now owns 25,664 shares of the company’s stock, valued at $662,131.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Paul Swart sold 5,500 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $27.41, for a total transaction of $150,755.00. Following the completion of the transaction, the chief accounting officer now owns 26,749 shares in the company, valued at $733,190.09. The disclosure for this sale can be found here. 1.10% of the stock is 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. 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, 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.