Renaissance Technologies LLC Trims Stock Position in TriMas Co. (NASDAQ:TRS)

Renaissance Technologies LLC lowered its holdings in TriMas Co. (NASDAQ:TRS - Free Report) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,300 shares of the industrial products company's stock after selling 23,400 shares during the quarter. Renaissance Technologies LLC owned 0.46% of TriMas worth $4,606,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in shares of TriMas during the 4th quarter valued at approximately $202,000. Quantbot Technologies LP boosted its holdings in 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 purchasing an additional 8,031 shares during the last quarter. Wells Fargo & Company MN raised its position in TriMas by 21.1% in the fourth quarter. Wells Fargo & Company MN now owns 37,729 shares of the industrial products company's stock valued at $928,000 after purchasing an additional 6,573 shares during the period. JPMorgan Chase & Co. raised its holdings in TriMas by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company's stock valued at $982,000 after buying an additional 1,227 shares during the period. Finally, Barclays PLC lifted its position in TriMas by 341.3% in the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company's stock valued at $1,755,000 after buying an additional 53,203 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company's stock.

Insiders Place Their Bets

In other news, CFO Scott A. Mell sold 2,218 shares of the firm'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 in the company, valued at approximately $592,531.52. This trade represents a 7.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Fielkow bought 2,500 shares of the 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 purchase, the director now owns 11,013 shares of the company's stock, valued at approximately $228,850.14. This represents a 29.37 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 806,246 shares of company stock worth $19,338,213 in the last quarter. 14.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

TriMas Stock Up 1.0 %

TriMas stock traded up $0.20 during mid-day trading on Wednesday, reaching $20.99. 735,308 shares of the company's stock were exchanged, compared to its average volume of 306,325. The company has a fifty day moving average of $22.55 and a 200-day moving average of $24.48. The company has a market cap of $854.63 million, a P/E ratio of 32.80 and a beta of 0.55. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. TriMas Co. has a twelve month low of $19.33 and a twelve month high of $28.51.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.76%. 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.