GAMMA Investing LLC Buys 14,565 Shares of TriMas Corporation (NASDAQ:TRS)

GAMMA Investing LLC boosted its stake in shares of TriMas Corporation (NASDAQ:TRS) by 3,802.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,948 shares of the industrial products company’s stock after acquiring an additional 14,565 shares during the quarter. GAMMA Investing LLC’s holdings in TriMas were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in shares of TriMas by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,158 shares in the last quarter. State of Wyoming acquired a new stake in TriMas during the 4th quarter valued at $50,000. KLP Kapitalforvaltning AS bought a new position in TriMas in the 4th quarter valued at $202,000. ProShare Advisors LLC bought a new position in TriMas in the 4th quarter valued at $281,000. Finally, Quantbot Technologies LP boosted its stake in TriMas by 203.5% in the fourth quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 8,031 shares in the last quarter. 99.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRS shares. Wall Street Zen upgraded TriMas from a “hold” rating to a “buy” rating in a research note on Sunday, June 1st. BWS Financial reissued a “buy” rating and set a $40.00 price objective on shares of TriMas in a report on Wednesday, April 30th.

TriMas Price Performance

TRS opened at $27.18 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.49. The stock has a market capitalization of $1.10 billion, a P/E ratio of 35.30 and a beta of 0.61. The company’s 50 day simple moving average is $24.63 and its 200-day simple moving average is $24.07. TriMas Corporation has a one year low of $19.33 and a one year high of $28.51.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $241.67 million for the quarter, compared to analyst estimates of $235.41 million. TriMas had a return on equity of 10.54% and a net margin of 3.36%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Sell-side analysts anticipate that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.59%. The ex-dividend date was Tuesday, May 6th. TriMas’s dividend payout ratio is 20.78%.

Insider Buying and Selling

In related news, Director Shawn Sedaghat bought 72,937 shares of TriMas stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $26.16 per share, for a total transaction of $1,908,031.92. Following the completion of the acquisition, the director now owns 1,883,758 shares in the company, valued at approximately $49,279,109.28. This represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adrianne Shapira bought 1,200 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were bought at an average price of $26.31 per share, with a total value of $31,572.00. Following the completion of the transaction, the director now directly owns 4,476 shares in the company, valued at approximately $117,763.56. This trade represents a 36.63% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 971,649 shares of company stock worth $24,585,343 over the last three months. 14.20% of the stock is currently owned by company insiders.

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.