Comerica Bank Reduces Position in TriMas Co. (NASDAQ:TRS)

Comerica Bank lessened its holdings in shares of TriMas Co. (NASDAQ:TRS) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,535 shares of the industrial products company’s stock after selling 450 shares during the period. Comerica Bank’s holdings in TriMas were worth $87,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC lifted its position in TriMas by 815.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,158 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of TriMas in the fourth quarter valued at about $202,000. Quantbot Technologies LP lifted its holdings in shares of TriMas by 203.5% in the fourth quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 8,031 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of TriMas during the fourth quarter valued at approximately $359,000. Finally, MetLife Investment Management LLC lifted its stake in shares of TriMas by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company’s stock valued at $610,000 after buying an additional 1,378 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.

TriMas Trading Up 0.8%

NASDAQ TRS opened at $24.93 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. The company has a 50-day simple moving average of $22.89 and a 200-day simple moving average of $24.05. The firm has a market capitalization of $1.01 billion, a PE ratio of 38.95 and a beta of 0.58. TriMas Co. has a one year low of $19.33 and a one year high of $28.51.

TriMas (NASDAQ:TRS) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The business had revenue of $241.67 million for the quarter, compared to the consensus estimate of $235.41 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts forecast that TriMas Co. will post 1.69 earnings per share for the current year.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 6th. TriMas’s dividend payout ratio is 20.78%.

Insider Buying and Selling

In other news, Director Shawn Sedaghat bought 554,149 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the transaction, the director now directly owns 900,974 shares of the company’s stock, valued at $21,686,444.18. This trade represents a 159.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey A. Fielkow acquired 2,500 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $20.78 per share, with a total value of $51,950.00. Following the transaction, the director now directly owns 11,013 shares in the company, valued at approximately $228,850.14. This represents a 29.37% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 929,729 shares of company stock valued at $22,280,897. Company insiders own 14.20% of the company’s stock.

Analyst Ratings Changes

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

TriMas 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.