State Street Corp Purchases 39,497 Shares of TriMas Co. (NASDAQ:TRS)

State Street Corp boosted its position in shares of TriMas Co. (NASDAQ:TRS) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 994,114 shares of the industrial products company’s stock after acquiring an additional 39,497 shares during the quarter. State Street Corp’s holdings in TriMas were worth $25,380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of TriMas by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 262,294 shares of the industrial products company’s stock valued at $6,704,000 after purchasing an additional 19,849 shares during the last quarter. Innealta Capital LLC bought a new stake in TriMas during the second quarter valued at approximately $26,000. Rhumbline Advisers increased its holdings in TriMas by 1.4% during the second quarter. Rhumbline Advisers now owns 69,328 shares of the industrial products company’s stock valued at $1,772,000 after buying an additional 985 shares during the last quarter. Quest Partners LLC raised its position in TriMas by 275.2% in 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 period. Finally, American Century Companies Inc. boosted its stake in shares of TriMas by 12.5% during the 2nd 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. 99.42% of the stock is owned by hedge funds and other institutional investors.

TriMas Price Performance

Shares of NASDAQ:TRS opened at $24.52 on Monday. The company has a market capitalization of $994.83 million, a P/E ratio of 38.31 and a beta of 0.66. TriMas Co. has a 1-year low of $22.45 and a 1-year high of $28.51. The firm’s 50 day simple moving average is $26.59 and its two-hundred day simple moving average is $25.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44.

TriMas (NASDAQ:TRS) last released its earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $239.33 million. During the same quarter last year, the firm posted $0.57 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts expect that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, November 5th. TriMas’s dividend payout ratio is currently 25.00%.

Analyst Ratings Changes

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

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.