Point72 Asset Management L.P. Takes Position in TriMas Co. (NASDAQ:TRS)

Point72 Asset Management L.P. purchased a new stake in TriMas Co. (NASDAQ:TRS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,476 shares of the industrial products company’s stock, valued at approximately $430,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TRS. Bank of America Corp DE increased its stake in shares of 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 acquiring an additional 1,967,738 shares during the last quarter. Bellecapital International Ltd. bought a new stake in shares of TriMas in the 4th quarter valued at about $29,160,000. Raymond James Financial Inc. acquired a new position in shares of TriMas in the 4th quarter valued at approximately $6,698,000. Kennedy Capital Management LLC grew its position in shares of TriMas by 94.8% in the 4th quarter. Kennedy Capital Management LLC now owns 485,721 shares of the industrial products company’s stock valued at $11,944,000 after purchasing an additional 236,346 shares during the period. Finally, Advisory Research Inc. grew its position in shares of TriMas by 41.2% in the 4th quarter. Advisory Research Inc. now owns 754,089 shares of the industrial products company’s stock valued at $18,543,000 after purchasing an additional 220,000 shares during the period. 99.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey A. Fielkow purchased 2,500 shares of TriMas stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $20.78 per share, with a total value of $51,950.00. Following the transaction, the director now directly owns 11,013 shares in the company, valued at $228,850.14. The trade was a 29.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shawn Sedaghat acquired 72,937 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $26.16 per share, for a total transaction of $1,908,031.92. Following the purchase, the director now owns 1,883,758 shares in the company, valued at approximately $49,279,109.28. This represents a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,772,695 shares of company stock valued at $43,788,704 in the last quarter. 14.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TRS. Wall Street Zen lowered TriMas from a “buy” rating to a “hold” rating in a research report on Saturday. BWS Financial reiterated a “buy” rating and issued a $40.00 price objective on shares of TriMas in a research report on Wednesday, April 30th.

TriMas Price Performance

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

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The firm had revenue of $241.67 million during the quarter, compared to the consensus estimate of $235.41 million. During the same quarter in the prior year, the firm posted $0.37 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, May 6th. TriMas’s dividend payout ratio (DPR) is currently 20.78%.

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.