TriMas Co. (NASDAQ:TRS) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 40.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,382 shares of the industrial products company's stock after selling 145,672 shares during the period. Millennium Management LLC owned about 0.53% of TriMas worth $5,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRS. Wellington Management Group LLP increased its stake in TriMas by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 2,393,786 shares of the industrial products company's stock worth $60,635,000 after buying an additional 34,596 shares during the period. Vanguard Group Inc. increased its position in shares of TriMas by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,258,456 shares of the industrial products company's stock worth $107,867,000 after purchasing an additional 43,423 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of TriMas in the 4th quarter worth about $1,102,000. Diversified Trust Co increased its position in shares of TriMas by 32.7% in the 1st quarter. Diversified Trust Co now owns 21,647 shares of the industrial products company's stock worth $579,000 after purchasing an additional 5,333 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of TriMas by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,095,572 shares of the industrial products company's stock worth $82,745,000 after purchasing an additional 25,795 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company's stock.

TriMas Stock Up 2.2 %

Shares of TRS traded up $0.55 during midday trading on Friday, hitting $26.00. The company had a trading volume of 279,810 shares, compared to its average volume of 489,648. The company's 50 day moving average price is $24.73 and its 200 day moving average price is $25.68. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 26.53 and a beta of 0.67. TriMas Co. has a 52 week low of $22.45 and a 52 week high of $27.89. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.10). TriMas had a net margin of 4.44% and a return on equity of 9.61%. The business had revenue of $240.50 million for the quarter, compared to the consensus estimate of $238.63 million. During the same period in the prior year, the company earned $0.50 EPS. TriMas's quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts predict that TriMas Co. will post 1.75 EPS for the current year.

TriMas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Tuesday, August 6th. TriMas's dividend payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a "buy" rating and issued a $40.00 target price on shares of TriMas in a research report on Wednesday.

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.