Allspring Global Investments Holdings LLC Has $92.98 Million Stake in TriMas Corporation $TRS

Allspring Global Investments Holdings LLC raised its position in shares of TriMas Corporation (NASDAQ:TRS) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,562,028 shares of the industrial products company’s stock after acquiring an additional 73,638 shares during the quarter. Allspring Global Investments Holdings LLC owned about 6.30% of TriMas worth $92,976,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of TriMas by 505.8% in the 4th quarter. SG Americas Securities LLC now owns 84,639 shares of the industrial products company’s stock valued at $3,000,000 after buying an additional 70,667 shares during the period. Oliver Luxxe Assets LLC grew its position in TriMas by 99.7% in the 4th quarter. Oliver Luxxe Assets LLC now owns 61,720 shares of the industrial products company’s stock valued at $2,188,000 after purchasing an additional 30,807 shares during the period. Tudor Investment Corp ET AL acquired a new stake in TriMas in the 3rd quarter valued at $9,419,000. Hudson Bay Capital Management LP bought a new stake in TriMas during the 3rd quarter valued at $2,916,000. Finally, CIBC Bancorp USA Inc. bought a new stake in TriMas during the 3rd quarter valued at $1,595,000. 99.42% of the stock is currently owned by institutional investors.

TriMas Stock Up 1.1%

TRS stock opened at $35.94 on Wednesday. The stock has a market cap of $1.35 billion, a P/E ratio of 12.10 and a beta of 0.55. The company has a current ratio of 2.52, a quick ratio of 1.93 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $36.07 and its two-hundred day simple moving average is $35.70. TriMas Corporation has a 1-year low of $19.45 and a 1-year high of $42.00.

TriMas (NASDAQ:TRS) last announced its earnings results on Thursday, February 26th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of ($139.97) million for the quarter, compared to analysts’ expectations of $192.96 million. TriMas had a net margin of 11.53% and a return on equity of 12.04%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. Analysts expect that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 27th were issued 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 was Friday, February 27th. TriMas’s dividend payout ratio (DPR) is 5.39%.

Analyst Upgrades and Downgrades

TRS has been the subject of several recent research reports. Wall Street Zen downgraded shares of TriMas from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Zacks Research lowered TriMas from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. BWS Financial reaffirmed a “buy” rating and set a $45.00 target price on shares of TriMas in a research report on Monday, March 2nd. Weiss Ratings upgraded TriMas from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Finally, KeyCorp reissued an “overweight” rating and issued a $38.00 price target on shares of TriMas in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

TriMas Profile

TriMas Corporation is a diversified industrial company headquartered in Bloomfield Hills, Michigan. Established in 1980, TriMas has built a global reputation for designing and manufacturing specialized products that serve a wide array of end markets. The company operates through multiple segments, each focused on high-demand niches where engineered solutions and rigorous quality standards are essential.

The Packaging segment supplies closures, dispensing systems and related components for the personal care, household chemicals, food and beverage, and pharmaceutical markets.