Orchard Capital Management LLC Sells 5,700 Shares of TriMas Co. (NASDAQ:TRS)

Orchard Capital Management LLC reduced its position in TriMas Co. (NASDAQ:TRS) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,128 shares of the industrial products company’s stock after selling 5,700 shares during the quarter. TriMas makes up about 3.2% of Orchard Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Orchard Capital Management LLC owned approximately 1.02% of TriMas worth $10,560,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of TriMas in the second quarter worth $26,000. Quantbot Technologies LP lifted its holdings in shares of TriMas by 5.7% in the first quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock worth $239,000 after buying an additional 478 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of TriMas in the fourth quarter worth $396,000. Panagora Asset Management Inc. purchased a new position in shares of TriMas in the fourth quarter worth $435,000. Finally, Jump Financial LLC purchased a new position in shares of TriMas in the fourth quarter worth $498,000. 99.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and issued a $40.00 target price on shares of TriMas in a report on Wednesday, July 31st.

TriMas Price Performance

TriMas stock opened at $25.71 on Friday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 26.51 and a beta of 0.68. The firm’s fifty day moving average is $25.07 and its 200 day moving average is $25.65. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. TriMas Co. has a 52-week low of $22.45 and a 52-week high of $27.89.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). The business had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $238.63 million. TriMas had a net margin of 4.44% and a return on equity of 9.61%. TriMas’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. Sell-side analysts forecast that TriMas Co. will post 1.76 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, August 6th. TriMas’s payout ratio is 16.49%.

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.