Wellington Management Group LLP Has $66.87 Million Stock Position in TriMas Co. (NASDAQ:TRS)

Wellington Management Group LLP lifted its position in shares of TriMas Co. (NASDAQ:TRS) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,619,359 shares of the industrial products company’s stock after purchasing an additional 252,537 shares during the quarter. Wellington Management Group LLP owned approximately 6.46% of TriMas worth $66,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Algert Global LLC boosted its holdings in TriMas by 4.2% during the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 639 shares in the last quarter. FMR LLC boosted its stake in TriMas by 1.7% in the 3rd quarter. FMR LLC now owns 44,082 shares of the industrial products company’s stock valued at $1,125,000 after buying an additional 729 shares in the last quarter. Rhumbline Advisers grew its position in TriMas by 1.4% in the second 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 during the period. Innealta Capital LLC acquired a new position in TriMas during the second quarter worth $26,000. Finally, Diversified Trust Co lifted its holdings in shares of TriMas by 5.0% during the second quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 1,072 shares during the period. 99.42% of the stock is currently owned by institutional investors.

TriMas Price Performance

TRS opened at $26.15 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The company’s 50 day simple moving average is $26.55 and its 200-day simple moving average is $25.79. TriMas Co. has a one year low of $22.45 and a one year high of $28.51. The stock has a market capitalization of $1.06 billion, a P/E ratio of 40.86 and a beta of 0.66.

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

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. TriMas’s payout ratio is presently 25.00%.

Analyst Ratings Changes

TRS has been the topic of several analyst reports. StockNews.com raised shares of TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. BWS Financial restated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Tuesday, November 5th.

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.