Bank of New York Mellon Corp Purchases 11,125 Shares of TriMas Co. (NASDAQ:TRS)

Bank of New York Mellon Corp lifted its position in TriMas Co. (NASDAQ:TRS - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 246,097 shares of the industrial products company's stock after buying an additional 11,125 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of TriMas worth $6,052,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of TRS. State of New Jersey Common Pension Fund D boosted its holdings in TriMas by 8.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 79,822 shares of the industrial products company's stock valued at $2,038,000 after purchasing an additional 6,344 shares during the period. Sasco Capital Inc. CT grew its holdings in shares of TriMas by 26.6% in the 3rd quarter. Sasco Capital Inc. CT now owns 44,980 shares of the industrial products company's stock worth $1,148,000 after purchasing an additional 9,460 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of TriMas during the 3rd quarter worth about $269,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of TriMas by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 582,846 shares of the industrial products company's stock worth $14,880,000 after acquiring an additional 4,977 shares in the last quarter. Finally, FMR LLC grew its position in TriMas by 1.7% during the 3rd quarter. FMR LLC now owns 44,082 shares of the industrial products company's stock worth $1,125,000 after acquiring an additional 729 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

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Insiders Place Their Bets

In related news, CFO Scott A. Mell sold 2,218 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $22.54, for a total value of $49,993.72. Following the sale, the chief financial officer now directly owns 26,288 shares of the company's stock, valued at approximately $592,531.52. The trade was a 7.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Shawn Sedaghat purchased 554,149 shares of the business's stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the completion of the acquisition, the director now owns 900,974 shares of the company's stock, valued at approximately $21,686,444.18. This represents a 159.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 806,246 shares of company stock worth $19,338,213. Company insiders own 1.10% of the company's stock.

TriMas Trading Up 3.6 %

Shares of TriMas stock traded up $0.86 during trading on Monday, hitting $25.01. 354,852 shares of the company were exchanged, compared to its average volume of 279,007. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The firm has a market capitalization of $1.01 billion, a P/E ratio of 39.08 and a beta of 0.65. The firm's fifty day moving average price is $23.57 and its 200 day moving average price is $25.05. TriMas Co. has a 1-year low of $19.33 and a 1-year high of $28.51.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 28th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.64%. The ex-dividend date was Friday, February 28th. TriMas's payout ratio is presently 27.12%.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a "buy" rating and set a $40.00 price target on shares of TriMas in a research report on Friday, February 28th.

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.