Arizona State Retirement System Has $246,000 Stake in TriMas Co. (NASDAQ:TRS)

Arizona State Retirement System lowered its stake in shares of TriMas Co. (NASDAQ:TRS) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,024 shares of the industrial products company’s stock after selling 1,143 shares during the quarter. Arizona State Retirement System’s holdings in TriMas were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new stake in shares of TriMas in the third quarter worth $269,000. Paloma Partners Management Co acquired a new position in TriMas during the 3rd quarter worth $293,000. XTX Topco Ltd bought a new stake in TriMas during the third quarter valued at about $371,000. JPMorgan Chase & Co. grew its position in shares of TriMas by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock valued at $982,000 after purchasing an additional 1,227 shares during the last quarter. Finally, FMR LLC increased its stake in shares of TriMas by 1.7% in the third quarter. FMR LLC now owns 44,082 shares of the industrial products company’s stock worth $1,125,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.

Insider Buying and Selling at TriMas

In other TriMas news, Director Shawn Sedaghat acquired 554,149 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 900,974 shares in the company, valued at $21,686,444.18. This represents a 159.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey A. Fielkow acquired 2,500 shares of TriMas stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $20.78 per share, with a total value of $51,950.00. Following the completion of the acquisition, the director now directly owns 11,013 shares in the company, valued at $228,850.14. This trade represents a 29.37 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 806,246 shares of company stock valued at $19,338,213 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

TriMas Price Performance

NASDAQ:TRS opened at $24.15 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. TriMas Co. has a one year low of $19.33 and a one year high of $28.51. The company has a fifty day moving average price of $23.57 and a 200 day moving average price of $25.05. The stock has a market cap of $980.08 million, a P/E ratio of 37.73 and a beta of 0.65.

TriMas Dividend Announcement

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

Analyst Ratings Changes

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

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.