Bank of New York Mellon Corp Has $6.05 Million Stake in TriMas Co. (NASDAQ:TRS)

Bank of New York Mellon Corp lifted its position in TriMas Co. (NASDAQ:TRS) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,097 shares of the industrial products company’s stock after purchasing an additional 11,125 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of TriMas worth $6,052,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TRS. Intech Investment Management LLC bought a new stake in shares of TriMas during the third quarter worth $269,000. Paloma Partners Management Co acquired a new stake in shares of TriMas during the third quarter worth about $293,000. XTX Topco Ltd acquired a new stake in TriMas in the 3rd quarter valued at approximately $371,000. JPMorgan Chase & Co. raised its position in TriMas by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock valued at $982,000 after buying an additional 1,227 shares during the last quarter. Finally, FMR LLC grew its stake in TriMas by 1.7% in the third quarter. FMR LLC now owns 44,082 shares of the industrial products company’s stock valued at $1,125,000 after purchasing an additional 729 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors.

Insider Transactions at TriMas

In related news, CFO Scott A. Mell sold 2,218 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the sale, the chief financial officer now owns 26,288 shares in the company, valued at $592,531.52. The trade was a 7.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shawn Sedaghat purchased 554,149 shares of TriMas stock in a transaction on Monday, March 10th. The stock was bought at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the transaction, the director now directly owns 900,974 shares in the company, valued at approximately $21,686,444.18. The trade was a 159.78 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 806,246 shares of company stock valued at $19,338,213. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and set a $40.00 target price on shares of TriMas in a research note on Friday, February 28th.

TriMas Price Performance

Shares of NASDAQ TRS opened at $24.15 on Monday. The stock has a market capitalization of $980.08 million, a PE ratio of 37.73 and a beta of 0.65. 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 business has a fifty day moving average price of $23.57 and a two-hundred day moving average price of $25.05. TriMas Co. has a fifty-two week low of $19.33 and a fifty-two week high of $28.51.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 28th were issued a $0.04 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.16 annualized dividend and a yield of 0.66%. TriMas’s dividend payout ratio is presently 27.12%.

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.