PNC Financial Services Group Inc. Lowers Stock Holdings in TriMas Co. (NASDAQ:TRS)

PNC Financial Services Group Inc. cut its holdings in shares of TriMas Co. (NASDAQ:TRS) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,045 shares of the industrial products company’s stock after selling 431 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TriMas were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bellecapital International Ltd. acquired a new position in TriMas in the fourth quarter valued at $29,160,000. Raymond James Financial Inc. acquired a new position in shares of TriMas in the 4th quarter valued at about $6,698,000. Wellington Management Group LLP lifted its stake in shares of TriMas by 10.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,619,359 shares of the industrial products company’s stock valued at $66,872,000 after purchasing an additional 252,537 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of TriMas during the 3rd quarter worth about $3,655,000. Finally, Western Standard LLC increased its position in TriMas by 86.6% during the 3rd quarter. Western Standard LLC now owns 169,069 shares of the industrial products company’s stock worth $4,316,000 after purchasing an additional 78,450 shares in the last quarter. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Shawn Sedaghat acquired 554,149 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the acquisition, the director now directly owns 900,974 shares of the company’s stock, valued at $21,686,444.18. This represents a 159.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Fielkow bought 2,500 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $20.78 per share, for a total transaction of $51,950.00. Following the completion of the transaction, the director now owns 11,013 shares of the company’s stock, valued at approximately $228,850.14. The trade was a 29.37 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 806,246 shares of company stock worth $19,338,213 in the last 90 days. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

TriMas Trading Down 3.0 %

Shares of TRS opened at $24.25 on Monday. TriMas Co. has a 12 month low of $19.33 and a 12 month high of $28.51. The stock’s 50-day moving average is $23.77 and its two-hundred day moving average is $25.04. 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 cap of $984.14 million, a PE ratio of 37.89 and a beta of 0.65.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 28th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, February 28th. TriMas’s dividend payout ratio (DPR) is presently 27.12%.

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.