State Street Corp Raises Stake in TriMas Co. (NASDAQ:TRS)

State Street Corp grew its holdings in shares of TriMas Co. (NASDAQ:TRS - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 994,114 shares of the industrial products company's stock after purchasing an additional 39,497 shares during the quarter. State Street Corp owned approximately 2.45% of TriMas worth $25,380,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TRS. Innealta Capital LLC acquired a new position in TriMas in the 2nd quarter valued at about $26,000. Aristides Capital LLC acquired a new position in TriMas in the second quarter valued at approximately $245,000. Intech Investment Management LLC purchased a new position in TriMas in the third quarter worth approximately $269,000. Paloma Partners Management Co acquired a new stake in TriMas during the third quarter worth $293,000. Finally, Algert Global LLC raised its position in TriMas by 4.2% in the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company's stock valued at $403,000 after purchasing an additional 639 shares during the period. Hedge funds and other institutional investors own 99.42% of the company's stock.

TriMas Stock Performance

NASDAQ TRS traded up $0.02 during trading hours on Monday, hitting $24.54. The company had a trading volume of 154,329 shares, compared to its average volume of 263,957. The company has a market cap of $995.64 million, a PE ratio of 38.34 and a beta of 0.66. TriMas Co. has a 1-year low of $22.45 and a 1-year high of $28.51. The business has a 50 day moving average of $26.55 and a 200-day moving average of $25.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83.

TriMas (NASDAQ:TRS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share 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 EPS. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts expect that TriMas Co. will post 1.69 EPS for the current year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.65%. TriMas's payout ratio is 25.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRS. StockNews.com upgraded TriMas from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. BWS Financial reissued a "buy" rating and set a $40.00 target price on shares of TriMas in a research note on Tuesday, November 5th.

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.