Geode Capital Management LLC Sells 58,362 Shares of TriMas Corporation $TRS

Geode Capital Management LLC cut its holdings in TriMas Corporation (NASDAQ:TRS) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 892,817 shares of the industrial products company’s stock after selling 58,362 shares during the quarter. Geode Capital Management LLC owned 2.20% of TriMas worth $25,547,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TRS. AE Wealth Management LLC bought a new stake in shares of TriMas in the 2nd quarter valued at $212,000. Apexium Financial LP acquired a new stake in TriMas in the second quarter worth $243,000. Comerica Bank increased its stake in TriMas by 214.5% in the first quarter. Comerica Bank now owns 11,119 shares of the industrial products company’s stock valued at $261,000 after purchasing an additional 7,584 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in TriMas in the second quarter valued at $292,000. Finally, Ancora Advisors LLC acquired a new position in shares of TriMas during the first quarter valued at about $351,000. Institutional investors and hedge funds own 99.42% of the company’s stock.

Wall Street Analysts Forecast Growth

TRS has been the subject of several research reports. Zacks Research upgraded TriMas from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. BWS Financial reissued a “buy” rating and issued a $45.00 price objective on shares of TriMas in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of TriMas in a report on Monday. Finally, KeyCorp cut their target price on TriMas from $45.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $41.50.

Insider Activity at TriMas

In other TriMas news, Director Jeffrey A. Fielkow bought 2,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of $31.46 per share, for a total transaction of $62,920.00. Following the purchase, the director directly owned 17,653 shares of the company’s stock, valued at approximately $555,363.38. This represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.20% of the stock is currently owned by corporate insiders.

TriMas Stock Performance

Shares of TRS opened at $34.07 on Friday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 31.54 and a beta of 0.64. TriMas Corporation has a 52 week low of $19.33 and a 52 week high of $40.34. The stock has a 50 day moving average price of $35.61 and a two-hundred day moving average price of $33.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 2.68.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. TriMas had a return on equity of 12.39% and a net margin of 4.35%.The company had revenue of $269.26 million for the quarter, compared to analysts’ expectations of $262.05 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. TriMas’s quarterly revenue was up 17.4% on a year-over-year basis. TriMas has set its FY 2025 guidance at 2.020-2.120 EPS. Equities analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, November 6th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. TriMas’s dividend payout ratio (DPR) is currently 14.81%.

About TriMas

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.