Chartwell Investment Partners LLC Has $5.68 Million Position in TriMas Co. (NASDAQ:TRS)

Chartwell Investment Partners LLC trimmed its stake in TriMas Co. (NASDAQ:TRS - Free Report) by 8.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,293 shares of the industrial products company's stock after selling 21,810 shares during the quarter. Chartwell Investment Partners LLC owned approximately 0.55% of TriMas worth $5,675,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of TriMas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company's stock worth $80,298,000 after purchasing an additional 51,701 shares in the last quarter. Quest Partners LLC grew its position in shares of TriMas by 275.2% in the second quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company's stock valued at $850,000 after purchasing an additional 24,400 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of TriMas by 109.2% during the first quarter. First Eagle Investment Management LLC now owns 190,206 shares of the industrial products company's stock worth $5,084,000 after buying an additional 99,300 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of TriMas by 216.4% in the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company's stock worth $10,467,000 after acquiring an additional 280,431 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of TriMas by 12.5% in the second 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 Stock Down 2.7 %

NASDAQ TRS traded down $0.76 during trading hours on Tuesday, reaching $27.07. 253,645 shares of the company's stock were exchanged, compared to its average volume of 267,741. The company's 50-day moving average is $26.03 and its two-hundred day moving average is $25.86. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 43.49 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.48 and a current ratio of 2.83. TriMas Co. has a one year low of $22.45 and a one year high of $28.51.

TriMas (NASDAQ:TRS - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.14). TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business had revenue of $229.36 million for the quarter, compared to analyst estimates of $239.33 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The company's quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts forecast that TriMas Co. will post 1.74 EPS for the current fiscal year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.59%. TriMas's dividend payout ratio (DPR) is 25.00%.

Analyst Upgrades and Downgrades

TRS has been the subject of a number of analyst reports. StockNews.com cut shares of TriMas from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. BWS Financial reissued a "buy" rating and set a $40.00 price target on shares of TriMas in a report on Tuesday, November 5th.

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.