Geode Capital Management LLC Has $23 Million Position in TriMas Co. (NASDAQ:TRS)

Geode Capital Management LLC trimmed its stake in TriMas Co. (NASDAQ:TRS) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 935,255 shares of the industrial products company’s stock after selling 11,792 shares during the quarter. Geode Capital Management LLC owned 2.31% of TriMas worth $23,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in TriMas by 4.1% during the third quarter. State Street Corp now owns 994,114 shares of the industrial products company’s stock valued at $25,380,000 after buying an additional 39,497 shares in the last quarter. Jane Street Group LLC grew its position in TriMas by 74.4% during the third quarter. Jane Street Group LLC now owns 82,621 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 35,258 shares in the last quarter. Barclays PLC increased its position in shares of TriMas by 341.3% during the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock valued at $1,755,000 after purchasing an additional 53,203 shares during the period. JPMorgan Chase & Co. raised its stake 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 buying an additional 1,227 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in TriMas by 4.7% during the fourth 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 period. Institutional investors and hedge funds own 99.42% of the company’s stock.

Insider Buying and Selling

In other TriMas news, Director Shawn Sedaghat acquired 554,149 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Mell sold 2,218 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 26,288 shares of the company’s stock, valued at $592,531.52. This trade represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 806,246 shares of company stock worth $19,338,213 over the last three months. 14.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Friday, February 28th.

TriMas Trading Up 1.6 %

Shares of NASDAQ TRS opened at $20.61 on Friday. TriMas Co. has a 1-year low of $19.33 and a 1-year high of $28.51. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $22.68 and a two-hundred day moving average of $24.54. The company has a market cap of $839.16 million, a PE ratio of 32.20 and a beta of 0.55.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 28th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.78%. TriMas’s payout ratio is 27.12%.

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.