Norges Bank Buys New Shares in TriMas Co. (NASDAQ:TRS)

Norges Bank bought a new stake in TriMas Co. (NASDAQ:TRSFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 267,134 shares of the industrial products company’s stock, valued at approximately $6,767,000. Norges Bank owned 0.65% of TriMas at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in TriMas in the fourth quarter valued at $205,000. Handelsbanken Fonder AB boosted its holdings in TriMas by 19.8% in the fourth quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 2,500 shares during the period. Summit Trail Advisors LLC boosted its holdings in TriMas by 5.0% in the fourth quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 716 shares during the period. Teacher Retirement System of Texas purchased a new position in TriMas in the fourth quarter valued at $396,000. Finally, Sendero Wealth Management LLC boosted its holdings in TriMas by 8.7% in the fourth quarter. Sendero Wealth Management LLC now owns 16,021 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 1,285 shares during the period. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Price Performance

Shares of TRS opened at $26.51 on Friday. TriMas Co. has a twelve month low of $22.59 and a twelve month high of $29.07. The stock’s 50 day moving average is $26.46 and its two-hundred day moving average is $25.60. The firm has a market capitalization of $1.08 billion, a PE ratio of 27.33 and a beta of 0.70. The company has a current ratio of 2.73, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRSGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS. Research analysts anticipate that TriMas Co. will post 2 earnings per share for the current year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were issued a $0.04 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.60%. TriMas’s dividend payout ratio (DPR) is presently 16.49%.

Insider Buying and Selling at TriMas

In other TriMas news, Director Herbert K. Parker purchased 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $25.98 per share, for a total transaction of $25,980.00. Following the acquisition, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Scott A. Mell sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total transaction of $40,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,923 shares in the company, valued at approximately $871,497.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Herbert K. Parker acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $25.98 per share, with a total value of $25,980.00. Following the completion of the acquisition, the director now owns 30,057 shares in the company, valued at $780,880.86. The disclosure for this purchase can be found here. In the last three months, insiders acquired 14,681 shares of company stock worth $387,053. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday, May 1st.

View Our Latest Stock Report on TriMas

TriMas Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for TriMas (NASDAQ:TRS)

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