Norges Bank Invests $3.60 Million in TriMas Co. (NASDAQ:TRS)

Norges Bank purchased a new position in shares of TriMas Co. (NASDAQ:TRS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 146,493 shares of the industrial products company's stock, valued at approximately $3,602,000. Norges Bank owned about 0.36% of TriMas at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in shares of TriMas in the 4th quarter valued at $202,000. Quantbot Technologies LP raised its stake in shares of TriMas by 203.5% in the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 8,031 shares during the period. XTX Topco Ltd acquired a new position in shares of TriMas in the 3rd quarter worth approximately $371,000. JPMorgan Chase & Co. boosted its position in shares of TriMas by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company's stock worth $982,000 after purchasing an additional 1,227 shares during the period. Finally, FMR LLC boosted its position in shares of 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 purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 99.42% of the company's stock.

Insiders Place Their Bets

In other TriMas news, Director Jeffrey A. Fielkow bought 2,500 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $20.78 per share, with a total value of $51,950.00. Following the completion of the acquisition, the director now directly owns 11,013 shares of the company's stock, valued at $228,850.14. This represents a 29.37 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Mell sold 2,218 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.54, for a total value of $49,993.72. Following the completion of the transaction, the chief financial officer now owns 26,288 shares in the company, valued at approximately $592,531.52. The trade was a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 806,246 shares of company stock worth $19,338,213 in the last quarter. 1.10% of the stock is owned by company insiders.

TriMas Stock Down 2.6 %

Shares of TRS traded down $0.53 during mid-day trading on Wednesday, hitting $20.05. 72,370 shares of the company's stock were exchanged, compared to its average volume of 304,677. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. The company has a market cap of $816.44 million, a price-to-earnings ratio of 31.37 and a beta of 0.55. The stock's 50-day moving average is $22.89 and its 200-day moving average is $24.64. TriMas Co. has a fifty-two week low of $18.00 and a fifty-two week high of $28.51.

TriMas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors 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 yield of 0.80%. TriMas's payout ratio is 27.12%.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a "buy" rating and set a $40.00 price target on shares of TriMas in a research note 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.