First Quadrant L P CA acquired a new position in shares of TriMas Corp (NASDAQ:TRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,015 shares of the industrial products company’s stock, valued at approximately $192,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of TriMas by 23.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,748 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 715 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in TriMas during the first quarter valued at about $121,000. Nisa Investment Advisors LLC increased its stake in TriMas by 105.2% during the first quarter. Nisa Investment Advisors LLC now owns 5,480 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 2,810 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TriMas by 100.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 3,779 shares during the period. Finally, IndexIQ Advisors LLC bought a new position in TriMas during the first quarter valued at about $193,000. 96.50% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. BidaskClub upgraded TriMas from a “sell” rating to a “hold” rating in a research note on Friday, July 17th. Zacks Investment Research upgraded TriMas from a “sell” rating to a “hold” rating and set a $21.00 price target on the stock in a research note on Saturday, May 16th.
TRS stock opened at $23.40 on Friday. TriMas Corp has a 1-year low of $18.05 and a 1-year high of $33.07. The firm has a market cap of $1.02 billion, a P/E ratio of 15.39 and a beta of 1.04. The business’s 50 day moving average is $23.52 and its 200-day moving average is $24.79. The company has a current ratio of 4.64, a quick ratio of 3.30 and a debt-to-equity ratio of 0.69.
TriMas (NASDAQ:TRS) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. TriMas had a return on equity of 9.98% and a net margin of 6.95%. The company had revenue of $199.60 million for the quarter, compared to analyst estimates of $183.14 million. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was down 16.7% compared to the same quarter last year. Sell-side analysts forecast that TriMas Corp will post 1.35 EPS for the current year.
In related news, Director Holly M. Boehne acquired 2,582 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $19.31 per share, for a total transaction of $49,858.42. Following the purchase, the director now owns 6,952 shares in the company, valued at approximately $134,243.12. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.
TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets worldwide. It operates in three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs, manufactures, and sells specialty closure products, including steel and plastic drum closures, plastic pail dispensers and plugs, and plastic enclosures; specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, airless dispensers, and other packaging solutions for the cosmetic, personal care, and household product markets; and specialty plastic closures for bottles and jars in the food and beverage markets under the Rieke name.
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