Fiduciary Management Inc. WI boosted its position in TriMas Corp (NYSE:TRS) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,745,646 shares of the industrial products company’s stock after purchasing an additional 14,511 shares during the period. Fiduciary Management Inc. WI owned approximately 6.01% of TriMas Corp worth $57,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TRS. Teachers Advisors LLC lifted its stake in TriMas Corp by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 76,580 shares of the industrial products company’s stock worth $1,800,000 after purchasing an additional 3,628 shares during the last quarter. First Trust Advisors LP lifted its stake in TriMas Corp by 37.1% in the first quarter. First Trust Advisors LP now owns 277,720 shares of the industrial products company’s stock worth $5,763,000 after purchasing an additional 75,225 shares during the last quarter. Capital Fund Management S.A. bought a new stake in TriMas Corp in the first quarter worth about $427,000. Comerica Bank lifted its stake in TriMas Corp by 82.7% in the first quarter. Comerica Bank now owns 186,271 shares of the industrial products company’s stock worth $4,349,000 after purchasing an additional 84,311 shares during the last quarter. Finally, Swiss National Bank lifted its stake in TriMas Corp by 2.5% in the first quarter. Swiss National Bank now owns 75,000 shares of the industrial products company’s stock worth $1,556,000 after purchasing an additional 1,800 shares during the last quarter.
Several analysts have recently weighed in on TRS shares. Seaport Global Securities downgraded shares of TriMas Corp from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Friday. Jefferies Group LLC reaffirmed a “hold” rating and set a $24.00 price target (up previously from $22.00) on shares of TriMas Corp in a research note on Monday, July 31st. BidaskClub raised shares of TriMas Corp from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. ValuEngine raised shares of TriMas Corp from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co raised shares of TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. TriMas Corp presently has a consensus rating of “Hold” and an average price target of $24.80.
In related news, insider Paul Swart sold 3,000 shares of TriMas Corp stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total transaction of $74,280.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nancy Gougarty sold 5,882 shares of TriMas Corp stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $24.80, for a total transaction of $145,873.60. Following the sale, the director now owns 19,293 shares in the company, valued at $478,466.40. The disclosure for this sale can be found here.
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TriMas Corp (NYSE TRS) traded up 0.19% during trading on Friday, reaching $26.95. 538,074 shares of the company’s stock traded hands. TriMas Corp has a 12-month low of $17.11 and a 12-month high of $27.00. The company’s market cap is $1.23 billion. The company has a 50 day moving average price of $24.30 and a 200-day moving average price of $22.25.
TriMas Corp (NYSE:TRS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. TriMas Corp had a net margin of 6.96% and a return on equity of 11.47%. The firm had revenue of $213.39 million for the quarter, compared to analyst estimates of $205.22 million. During the same period last year, the business earned $0.34 EPS. TriMas Corp’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that TriMas Corp will post $1.43 EPS for the current fiscal year.
TriMas Corp Profile
TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.
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