Champlain Investment Partners LLC cut its holdings in TriMas Corp (NASDAQ:TRS) by 14.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,066,495 shares of the industrial products company’s stock after selling 185,005 shares during the quarter. Champlain Investment Partners LLC’s holdings in TriMas were worth $32,240,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Quantamental Technologies LLC raised its position in shares of TriMas by 1,552.0% during the first quarter. Quantamental Technologies LLC now owns 1,619 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,521 shares during the period. Nisa Investment Advisors LLC raised its position in shares of TriMas by 54.4% during the first quarter. Nisa Investment Advisors LLC now owns 2,270 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TriMas by 70.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,755 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 1,556 shares during the period. Toronto Dominion Bank raised its position in shares of TriMas by 49.3% during the fourth quarter. Toronto Dominion Bank now owns 3,799 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,255 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of TriMas during the fourth quarter worth approximately $126,000. 97.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on TRS shares. BidaskClub raised TriMas from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 20th. BMO Capital Markets reissued a “buy” rating and issued a $36.00 price target on shares of TriMas in a research report on Monday, February 25th. Finally, Wells Fargo & Co increased their price target on TriMas from $30.00 to $33.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $34.50.
NASDAQ TRS opened at $29.89 on Friday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 17.08, a P/E/G ratio of 3.12 and a beta of 1.53. TriMas Corp has a 12 month low of $25.18 and a 12 month high of $33.45. The company has a quick ratio of 1.61, a current ratio of 2.86 and a debt-to-equity ratio of 0.46.
TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $221.29 million during the quarter, compared to analyst estimates of $225.12 million. TriMas had a return on equity of 13.54% and a net margin of 8.86%. TriMas’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. Equities analysts expect that TriMas Corp will post 1.91 EPS for the current year.
In other TriMas news, insider Thomas A. Amato sold 14,991 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $30.64, for a total value of $459,324.24. Following the completion of the transaction, the insider now owns 117,713 shares in the company, valued at approximately $3,606,726.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nancy Gougarty sold 8,037 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $30.33, for a total value of $243,762.21. Following the completion of the transaction, the director now owns 24,403 shares of the company’s stock, valued at approximately $740,142.99. The disclosure for this sale can be found here. Insiders sold a total of 54,383 shares of company stock valued at $1,649,389 over the last three months. 1.30% of the stock is currently owned by insiders.
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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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