State Street Corp Grows Position in TriMas Co. (NASDAQ:TRS)

State Street Corp lifted its position in TriMas Co. (NASDAQ:TRS) by 4.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 994,114 shares of the industrial products company’s stock after purchasing an additional 39,497 shares during the period. State Street Corp owned about 2.45% of TriMas worth $25,380,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of TriMas by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 262,294 shares of the industrial products company’s stock valued at $6,704,000 after purchasing an additional 19,849 shares in the last quarter. Innealta Capital LLC purchased a new stake in TriMas in the second quarter worth about $26,000. Rhumbline Advisers boosted its position in TriMas by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 69,328 shares of the industrial products company’s stock valued at $1,772,000 after acquiring an additional 985 shares in the last quarter. Quest Partners LLC grew its holdings in shares of TriMas by 275.2% during the 2nd quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company’s stock worth $850,000 after acquiring an additional 24,400 shares during the period. Finally, American Century Companies Inc. raised its position in shares of TriMas by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 65,505 shares of the industrial products company’s stock worth $1,674,000 after acquiring an additional 7,304 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TRS. StockNews.com raised TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. BWS Financial reissued a “buy” rating and set a $40.00 price target on shares of TriMas in a research report on Tuesday, November 5th.

TriMas Price Performance

Shares of TRS opened at $24.52 on Monday. The company has a market capitalization of $994.83 million, a P/E ratio of 38.31 and a beta of 0.66. TriMas Co. has a twelve month low of $22.45 and a twelve month high of $28.51. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $26.59 and a 200 day moving average of $25.71.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.14). TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business had revenue of $229.36 million during the quarter, compared to analysts’ expectations of $239.33 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. TriMas’s payout ratio is 25.00%.

TriMas Company 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.