73,832 Shares in TriMas Corporation $TRS Purchased by Alpha Wave Global LP

Alpha Wave Global LP bought a new stake in TriMas Corporation (NASDAQ:TRS) during the 2nd quarter, HoldingsChannel reports. The fund bought 73,832 shares of the industrial products company’s stock, valued at approximately $2,112,000. TriMas makes up 0.2% of Alpha Wave Global LP’s holdings, making the stock its 26th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its position in shares of TriMas by 2.0% during the 2nd quarter. Pzena Investment Management LLC now owns 2,177,761 shares of the industrial products company’s stock worth $62,306,000 after acquiring an additional 42,207 shares in the last quarter. Irenic Capital Management LP bought a new position in shares of TriMas in the 1st quarter valued at $19,997,000. Alta Fox Capital Management LLC acquired a new position in shares of TriMas during the 1st quarter worth $17,385,000. Charles Schwab Investment Management Inc. raised its holdings in shares of TriMas by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 614,023 shares of the industrial products company’s stock worth $14,387,000 after buying an additional 8,521 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of TriMas by 42.5% during the 2nd quarter. Loomis Sayles & Co. L P now owns 396,533 shares of the industrial products company’s stock worth $11,345,000 after buying an additional 118,313 shares during the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TriMas

In other news, Director Jeffrey A. Fielkow purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of $31.46 per share, for a total transaction of $62,920.00. Following the transaction, the director owned 17,653 shares of the company’s stock, valued at approximately $555,363.38. This trade represents a 12.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 14.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriMas in a research report on Monday. BWS Financial reissued a “buy” rating and issued a $45.00 price objective on shares of TriMas in a research note on Friday, October 31st. KeyCorp cut their target price on shares of TriMas from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Finally, Zacks Research raised shares of TriMas from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $41.50.

TriMas Stock Performance

NASDAQ TRS opened at $32.72 on Friday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 30.30 and a beta of 0.62. The company has a quick ratio of 1.42, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. TriMas Corporation has a twelve month low of $19.33 and a twelve month high of $40.34. The stock has a fifty day simple moving average of $35.19 and a 200 day simple moving average of $33.44.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $269.26 million for the quarter, compared to the consensus estimate of $262.05 million. TriMas had a return on equity of 12.39% and a net margin of 4.35%.The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. TriMas has set its FY 2025 guidance at 2.020-2.120 EPS. Sell-side analysts expect that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, November 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 6th. TriMas’s dividend payout ratio is currently 14.81%.

TriMas 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.