TriMas Co. (NASDAQ:TRS) Stock Holdings Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of TriMas Co. (NASDAQ:TRS) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,059,475 shares of the industrial products company’s stock after selling 29,832 shares during the period. Massachusetts Financial Services Co. MA’s holdings in TriMas were worth $27,048,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc grew its position in shares of TriMas by 216.4% during the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock worth $10,467,000 after acquiring an additional 280,431 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of TriMas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock worth $80,298,000 after acquiring an additional 51,701 shares during the last quarter. Quest Partners LLC grew its position in shares of TriMas by 275.2% during the second quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company’s stock worth $850,000 after acquiring an additional 24,400 shares during the last quarter. American Century Companies Inc. grew its position in shares of TriMas by 12.5% during the second quarter. American Century Companies Inc. now owns 65,505 shares of the industrial products company’s stock worth $1,674,000 after acquiring an additional 7,304 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of TriMas by 2.3% during the first quarter. Vanguard Group Inc. now owns 4,358,524 shares of the industrial products company’s stock worth $116,503,000 after acquiring an additional 100,068 shares during the last quarter. Institutional investors own 99.42% of the company’s stock.

TriMas Stock Performance

Shares of TRS opened at $26.99 on Tuesday. The firm has a 50-day moving average price of $26.34 and a 200 day moving average price of $25.86. The firm has a market capitalization of $1.09 billion, a PE ratio of 42.17 and a beta of 0.66. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. TriMas Co. has a 52-week low of $22.45 and a 52-week high of $28.51.

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

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, November 5th. TriMas’s payout ratio is 25.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRS. BWS Financial reiterated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research report on Tuesday, November 5th. StockNews.com upgraded shares of TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

About TriMas

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.