The Manufacturers Life Insurance Company Has $400,000 Position in TriMas Co. (NASDAQ:TRS)

The Manufacturers Life Insurance Company cut its holdings in shares of TriMas Co. (NASDAQ:TRS) by 26.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,668 shares of the industrial products company’s stock after selling 5,728 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in TriMas were worth $400,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TRS. Impax Asset Management Group plc grew its position in TriMas by 216.4% in the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock valued at $10,467,000 after acquiring an additional 280,431 shares during the period. Allspring Global Investments Holdings LLC grew its position in TriMas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock valued at $80,298,000 after acquiring an additional 51,701 shares during the period. First Eagle Investment Management LLC grew its position in TriMas by 26.2% in the second quarter. First Eagle Investment Management LLC now owns 240,006 shares of the industrial products company’s stock valued at $6,135,000 after acquiring an additional 49,800 shares during the period. Quest Partners LLC grew its position in TriMas by 275.2% in the second quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company’s stock valued at $850,000 after acquiring an additional 24,400 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in TriMas in the second quarter valued at $611,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

TriMas Stock Performance

Shares of NASDAQ TRS opened at $26.02 on Monday. The company has a market capitalization of $1.06 billion, a P/E ratio of 40.66 and a beta of 0.66. The stock has a 50 day moving average of $26.62 and a 200-day moving average of $25.78. 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 $22.45 and a 12 month high of $28.51.

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

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, November 5th. TriMas’s dividend payout ratio (DPR) is presently 25.00%.

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.