Insider Buying: TriMas Co. (NASDAQ:TRS) Director Buys $2,697,394.90 in Stock

TriMas Co. (NASDAQ:TRS) Director Shawn Sedaghat purchased 104,957 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was acquired at an average price of $25.70 per share, for a total transaction of $2,697,394.90. Following the completion of the purchase, the director now owns 1,400,649 shares of the company’s stock, valued at approximately $35,996,679.30. This represents a 8.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shawn Sedaghat also recently made the following trade(s):

• On Thursday, May 22nd, Shawn Sedaghat bought 72,937 shares of TriMas stock. The stock was acquired at an average cost of $26.16 per share, with a total value of $1,908,031.92.
• On Wednesday, May 21st, Shawn Sedaghat purchased 410,172 shares of TriMas stock. The shares were bought at an average cost of $25.43 per share, for a total transaction of $10,430,673.96.
• On Monday, May 19th, Shawn Sedaghat purchased 254,400 shares of TriMas stock. The stock was bought at an average price of $25.39 per share, with a total value of $6,459,216.00.
• On Wednesday, April 30th, Shawn Sedaghat acquired 123,388 shares of TriMas stock. The stock was bought at an average price of $23.83 per share, with a total value of $2,940,336.04.
• On Monday, March 10th, Shawn Sedaghat bought 554,149 shares of TriMas stock. The shares were bought at an average price of $24.07 per share, for a total transaction of $13,338,366.43.
• On Friday, March 7th, Shawn Sedaghat purchased 249,597 shares of TriMas stock. The shares were bought at an average price of $23.83 per share, with a total value of $5,947,896.51.

TriMas Price Performance

Shares of NASDAQ TRS opened at $25.42 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $23.01 and its 200 day moving average price is $24.07. TriMas Co. has a 52 week low of $19.33 and a 52 week high of $28.51. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 39.72 and a beta of 0.58.

TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $241.67 million for the quarter, compared to the consensus estimate of $235.41 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts forecast that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 6th. TriMas’s payout ratio is currently 20.78%.

Analyst Ratings Changes

TRS has been the topic of a number of research reports. BWS Financial restated a “buy” rating and issued a $40.00 price target on shares of TriMas in a report on Wednesday, April 30th. Wall Street Zen downgraded TriMas from a “buy” rating to a “hold” rating in a research report on Saturday.

Hedge Funds Weigh In On TriMas

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of TriMas by 2.2% in the fourth 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 in the last quarter. Bank of America Corp DE raised its stake 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 purchasing an additional 1,967,738 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in TriMas by 0.7% in the 1st quarter. Pzena Investment Management LLC now owns 2,135,554 shares of the industrial products company’s stock valued at $50,036,000 after purchasing an additional 14,942 shares in the last quarter. Bellecapital International Ltd. acquired a new stake in shares of TriMas during the 4th quarter worth about $29,160,000. Finally, Medina Value Partners LLC grew its holdings in shares of TriMas by 2.9% during the fourth quarter. Medina Value Partners LLC now owns 1,034,882 shares of the industrial products company’s stock worth $25,448,000 after buying an additional 28,851 shares in the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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.