Herbert K. Parker Buys 1,500 Shares of TriMas Co. (NASDAQ:TRS) Stock

TriMas Co. (NASDAQ:TRS) Director Herbert K. Parker purchased 1,500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $26.34 per share, for a total transaction of $39,510.00. Following the purchase, the director now owns 33,057 shares in the company, valued at approximately $870,721.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

TriMas Stock Down 0.0 %

NASDAQ:TRS opened at $26.21 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.73 and a quick ratio of 1.29. The company’s fifty day moving average price is $25.59 and its 200-day moving average price is $25.11. TriMas Co. has a 1-year low of $22.59 and a 1-year high of $29.07. The firm has a market capitalization of $1.07 billion, a P/E ratio of 27.02 and a beta of 0.71.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. As a group, equities research analysts anticipate that TriMas Co. will post 1.92 EPS for the current year.

TriMas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, May 6th. TriMas’s dividend payout ratio is currently 16.49%.

Institutional Investors Weigh In On TriMas

Hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. boosted its stake in shares of TriMas by 30.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock worth $1,079,000 after acquiring an additional 10,098 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in TriMas by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock worth $12,802,000 after purchasing an additional 21,767 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in TriMas by 16.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock valued at $77,757,000 after purchasing an additional 422,717 shares during the period. Vanguard Group Inc. increased its position in shares of TriMas by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock valued at $104,364,000 after buying an additional 34,517 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of TriMas by 8.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 102,562 shares of the industrial products company’s stock worth $2,598,000 after buying an additional 7,903 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research report on Wednesday.

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.