272,381 Shares in TriMas Co. (NASDAQ:TRS) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in TriMas Co. (NASDAQ:TRS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and 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 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TRS. Wells Fargo & Company MN boosted its holdings in shares of TriMas by 21.1% in the 4th quarter. Wells Fargo & Company MN now owns 37,729 shares of the industrial products company's stock valued at $928,000 after acquiring an additional 6,573 shares during the last quarter. ExodusPoint Capital Management LP grew its position in TriMas by 28.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 103,724 shares of the industrial products company's stock worth $2,551,000 after purchasing an additional 23,044 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of TriMas by 38.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 255,560 shares of the industrial products company's stock valued at $6,284,000 after buying an additional 71,088 shares during the last quarter. Norges Bank acquired a new position in shares of TriMas in the 4th quarter valued at about $3,602,000. Finally, Vanguard Group Inc. boosted its stake in shares of TriMas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,895,946 shares of the industrial products company's stock worth $95,801,000 after buying an additional 82,068 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Insider Activity

In other TriMas news, Director Jeffrey A. Fielkow purchased 2,500 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $20.78 per share, for a total transaction of $51,950.00. Following the completion of the transaction, the director now owns 11,013 shares of the company's stock, valued at $228,850.14. The trade was a 29.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Scott A. Mell sold 2,218 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the transaction, 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 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 over the last 90 days. 14.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

TriMas Price Performance

TRS traded down $0.19 during trading on Monday, hitting $21.14. The company's stock had a trading volume of 336,299 shares, compared to its average volume of 311,527. The firm has a market capitalization of $860.74 million, a price-to-earnings ratio of 33.00 and a beta of 0.55. TriMas Co. has a twelve month low of $19.33 and a twelve month high of $28.51. The business's fifty day simple moving average is $22.39 and its 200 day simple moving average is $24.39. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, May 6th. TriMas's payout ratio is 27.12%.

About TriMas

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.