Macquarie Group Ltd. trimmed its holdings in shares of TriMas Corp (NASDAQ:TRS) by 49.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,216 shares of the industrial products company’s stock after selling 1,182 shares during the period. Macquarie Group Ltd.’s holdings in TriMas were worth $33,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of TRS. Lord Abbett & CO. LLC bought a new stake in shares of TriMas during the fourth quarter worth approximately $6,736,000. Mawer Investment Management Ltd. grew its holdings in TriMas by 62.3% during the fourth quarter. Mawer Investment Management Ltd. now owns 594,526 shares of the industrial products company’s stock valued at $16,225,000 after purchasing an additional 228,316 shares during the period. BlackRock Inc. grew its holdings in TriMas by 3.9% during the third quarter. BlackRock Inc. now owns 3,136,016 shares of the industrial products company’s stock valued at $95,335,000 after purchasing an additional 116,897 shares during the period. Natixis Advisors L.P. grew its holdings in TriMas by 63.0% during the fourth quarter. Natixis Advisors L.P. now owns 257,818 shares of the industrial products company’s stock valued at $7,035,000 after purchasing an additional 99,648 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in TriMas by 33.7% during the third quarter. Renaissance Technologies LLC now owns 348,500 shares of the industrial products company’s stock valued at $10,594,000 after purchasing an additional 87,800 shares during the period.
TRS has been the subject of a number of analyst reports. BidaskClub cut shares of TriMas from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 27th. BMO Capital Markets restated a “buy” rating and set a $36.00 price objective on shares of TriMas in a report on Monday, February 25th. Zacks Investment Research cut shares of TriMas from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Finally, Wells Fargo & Co boosted their price objective on shares of TriMas from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $34.50.
In other news, CFO Robert J. Zalupski sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $32.01, for a total value of $80,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.
TriMas stock opened at $32.41 on Friday. The company has a market capitalization of $1.48 billion, a PE ratio of 18.52, a P/E/G ratio of 3.45 and a beta of 1.57. TriMas Corp has a twelve month low of $25.18 and a twelve month high of $32.92. The company has a quick ratio of 1.68, a current ratio of 2.91 and a debt-to-equity ratio of 0.47.
TriMas (NASDAQ:TRS) last released its quarterly earnings results on Thursday, February 28th. The industrial products company reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $211.35 million during the quarter, compared to analysts’ expectations of $205.52 million. TriMas had a net margin of 9.50% and a return on equity of 13.61%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, equities research analysts predict that TriMas Corp will post 1.88 EPS for the current fiscal year.
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TriMas Company Profile
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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