TriMas Corporation (NASDAQ:TRS) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in TriMas Corporation (NASDAQ:TRS) by 44.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 22,765 shares of the industrial products company’s stock after acquiring an additional 7,016 shares during the period. Envestnet Asset Management Inc. owned 0.06% of TriMas worth $533,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in TriMas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,895,946 shares of the industrial products company’s stock valued at $95,801,000 after acquiring an additional 82,068 shares during the last quarter. Bank of America Corp DE raised its holdings in TriMas by 127.3% in the 4th quarter. Bank of America Corp DE now owns 3,513,638 shares of the industrial products company’s stock valued at $86,400,000 after acquiring an additional 1,967,738 shares during the last quarter. Medina Value Partners LLC raised its holdings in TriMas by 2.9% in the 4th quarter. Medina Value Partners LLC now owns 1,034,882 shares of the industrial products company’s stock valued at $25,448,000 after acquiring an additional 28,851 shares during the last quarter. Advisory Research Inc. grew its stake in shares of TriMas by 41.2% during the 4th quarter. Advisory Research Inc. now owns 754,089 shares of the industrial products company’s stock valued at $18,543,000 after buying an additional 220,000 shares during the period. Finally, Kennedy Capital Management LLC grew its stake in shares of TriMas by 94.8% during the 4th quarter. Kennedy Capital Management LLC now owns 485,721 shares of the industrial products company’s stock valued at $11,944,000 after buying an additional 236,346 shares during the period. 99.42% of the stock is currently owned by institutional investors and hedge funds.

TriMas Stock Up 1.7%

Shares of TriMas stock opened at $35.63 on Wednesday. The company has a fifty day moving average price of $29.31 and a 200 day moving average price of $25.44. The company has a current ratio of 2.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. TriMas Corporation has a twelve month low of $19.33 and a twelve month high of $36.77. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 39.15 and a beta of 0.66.

TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. TriMas had a net margin of 3.83% and a return on equity of 11.49%. The firm had revenue of $274.76 million during the quarter, compared to analysts’ expectations of $251.18 million. During the same period in the prior year, the company earned $0.43 EPS. The firm’s revenue was up 14.2% on a year-over-year basis. Equities research analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 5th. TriMas’s dividend payout ratio is 17.58%.

Analyst Ratings Changes

TRS has been the subject of several research reports. Wall Street Zen raised shares of TriMas from a “hold” rating to a “buy” rating in a research note on Sunday, June 1st. BWS Financial reissued a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of TriMas in a research note on Wednesday, July 30th.

Insiders Place Their Bets

In other TriMas news, Director Adrianne Shapira purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $25.82 per share, with a total value of $103,280.00. Following the transaction, the director owned 8,476 shares in the company, valued at approximately $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shawn Sedaghat acquired 72,937 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $26.16 per share, with a total value of $1,908,031.92. Following the completion of the transaction, the director owned 1,883,758 shares in the company, valued at $49,279,109.28. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 848,261 shares of company stock valued at $21,645,007. 14.20% of the stock is owned by corporate insiders.

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.