Two Sigma Advisers LP Reduces Stake in TriMas Co. (NASDAQ:TRS)

Two Sigma Advisers LP trimmed its stake in TriMas Co. (NASDAQ:TRS) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,500 shares of the industrial products company’s stock after selling 19,200 shares during the quarter. Two Sigma Advisers LP owned approximately 0.32% of TriMas worth $3,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in TriMas by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company’s stock valued at $14,889,000 after acquiring an additional 22,656 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TriMas by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company’s stock valued at $6,052,000 after buying an additional 11,125 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of TriMas by 1.8% during the 4th quarter. First Eagle Investment Management LLC now owns 257,506 shares of the industrial products company’s stock valued at $6,332,000 after buying an additional 4,500 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of TriMas by 203.5% during the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company’s stock valued at $295,000 after buying an additional 8,031 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of TriMas by 21.1% during the 4th quarter. Wells Fargo & Company MN now owns 37,729 shares of the industrial products company’s stock valued at $928,000 after buying an additional 6,573 shares in the last quarter. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Stock Performance

NASDAQ TRS opened at $25.42 on Tuesday. TriMas Co. has a 1 year low of $19.33 and a 1 year high of $28.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The stock has a market capitalization of $1.03 billion, a PE ratio of 39.72 and a beta of 0.58. The company’s 50 day simple moving average is $23.01 and its two-hundred day simple moving average is $24.01.

TriMas (NASDAQ:TRS) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $235.41 million. During the same period in the prior year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that TriMas Co. 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 Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, May 6th. TriMas’s dividend payout ratio is presently 20.78%.

Analysts Set New Price Targets

A number of analysts recently commented on TRS shares. Wall Street Zen cut shares of TriMas from a “buy” rating to a “hold” rating in a research note on Saturday. BWS Financial restated a “buy” rating and set a $40.00 price target on shares of TriMas in a research note on Wednesday, April 30th.

Insiders Place Their Bets

In related news, Director Shawn Sedaghat acquired 72,937 shares of the stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $26.16 per share, for a total transaction of $1,908,031.92. Following the transaction, the director now owns 1,883,758 shares in the company, valued at $49,279,109.28. This represents a 4.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Fielkow acquired 2,500 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the transaction, the director now 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. Insiders have bought 1,772,695 shares of company stock worth $43,788,704 in the last three months. 14.20% of the stock is currently owned by corporate insiders.

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.