Raymond James Financial Inc. acquired a new stake in shares of TriMas Co. (NASDAQ:TRS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 272,381 shares of the industrial products company's stock, valued at approximately $6,698,000. Raymond James Financial Inc. owned approximately 0.67% of TriMas as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of TRS. Bellecapital International Ltd. purchased a new stake in shares of TriMas during the fourth quarter valued at about $29,160,000. Wellington Management Group LLP lifted its position in TriMas by 10.7% during the third quarter. Wellington Management Group LLP now owns 2,619,359 shares of the industrial products company's stock valued at $66,872,000 after acquiring an additional 252,537 shares during the last quarter. Invenomic Capital Management LP acquired a new stake in TriMas in the third quarter valued at approximately $3,655,000. Western Standard LLC grew its holdings in TriMas by 86.6% in the third quarter. Western Standard LLC now owns 169,069 shares of the industrial products company's stock worth $4,316,000 after purchasing an additional 78,450 shares during the last quarter. Finally, Atom Investors LP increased its position in shares of TriMas by 62.0% during the third quarter. Atom Investors LP now owns 179,328 shares of the industrial products company's stock worth $4,578,000 after purchasing an additional 68,608 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, BWS Financial reissued a "buy" rating and issued a $40.00 price objective on shares of TriMas in a research report on Friday, February 28th.
Check Out Our Latest Stock Analysis on TRS
TriMas Stock Down 3.0 %
Shares of TRS traded down $0.72 during mid-day trading on Thursday, hitting $23.22. 253,971 shares of the company traded hands, compared to its average volume of 284,099. The company has a market capitalization of $942.34 million, a PE ratio of 36.28 and a beta of 0.65. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $23.79 and a 200 day moving average of $25.02. TriMas Co. has a 1-year low of $19.33 and a 1-year high of $28.51.
TriMas Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 28th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. TriMas's payout ratio is currently 27.12%.
Insider Activity
In other TriMas news, Director Shawn Sedaghat acquired 554,149 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $24.07 per share, with a total value of $13,338,366.43. Following the acquisition, the director now directly owns 900,974 shares of the company's stock, valued at approximately $21,686,444.18. The trade was a 159.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Scott A. Mell sold 2,218 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the completion of the sale, the chief financial officer now directly owns 26,288 shares in the company, valued at approximately $592,531.52. The trade was a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 806,246 shares of company stock valued at $19,338,213 over the last ninety days. 1.10% of the stock is currently owned by insiders.
TriMas Profile
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Free Report)
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.
Further Reading
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