Allspring Global Investments Holdings LLC Has $82.75 Million Stock Position in TriMas Co. (NASDAQ:TRS)

Allspring Global Investments Holdings LLC raised its holdings in shares of TriMas Co. (NASDAQ:TRS) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,095,572 shares of the industrial products company’s stock after buying an additional 25,795 shares during the quarter. Allspring Global Investments Holdings LLC owned about 7.58% of TriMas worth $82,745,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TRS. Norges Bank bought a new stake in shares of TriMas during the fourth quarter valued at approximately $6,767,000. Hillsdale Investment Management Inc. bought a new stake in TriMas in the 4th quarter valued at $3,764,000. Fiduciary Management Inc. WI raised its stake in shares of TriMas by 4.3% in the 4th quarter. Fiduciary Management Inc. WI now owns 3,106,943 shares of the industrial products company’s stock valued at $78,699,000 after buying an additional 129,477 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of TriMas during the 4th quarter worth about $2,303,000. Finally, Evoke Wealth LLC acquired a new stake in shares of TriMas during the 4th quarter valued at about $1,471,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Wednesday, May 1st.

TriMas Trading Up 0.2 %

NASDAQ:TRS traded up $0.06 on Tuesday, reaching $25.19. The company’s stock had a trading volume of 1,829 shares, compared to its average volume of 217,561. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.73. The firm has a market cap of $1.03 billion, a PE ratio of 25.91 and a beta of 0.67. The business’s 50-day moving average price is $26.40 and its two-hundred day moving average price is $25.67. TriMas Co. has a 1-year low of $22.59 and a 1-year high of $28.93.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. Equities research analysts anticipate that TriMas Co. will post 2.03 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, May 6th. TriMas’s dividend payout ratio (DPR) is presently 16.49%.

Insiders Place Their Bets

In other TriMas news, Director Herbert K. Parker bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $25.98 per share, for a total transaction of $25,980.00. Following the transaction, the director now directly owns 30,057 shares in the company, valued at $780,880.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other TriMas news, Director Herbert K. Parker purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $25.98 per share, with a total value of $25,980.00. Following the completion of the transaction, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Mell sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $27.30, for a total transaction of $40,950.00. Following the completion of the transaction, the chief financial officer now owns 31,923 shares of the company’s stock, valued at $871,497.90. The disclosure for this sale can be found here. Insiders bought a total of 14,681 shares of company stock valued at $387,053 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

TriMas Company 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.