Penn Capital Management Company LLC Acquires 105,084 Shares of TriMas Co. (NASDAQ:TRS)

Penn Capital Management Company LLC grew its stake in TriMas Co. (NASDAQ:TRS - Free Report) by 300.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,068 shares of the industrial products company's stock after acquiring an additional 105,084 shares during the period. Penn Capital Management Company LLC owned 0.35% of TriMas worth $3,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC grew its stake in TriMas by 815.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 1,158 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of TriMas in the fourth quarter valued at about $202,000. Quantbot Technologies LP raised its holdings in TriMas by 203.5% during the fourth quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company's stock worth $295,000 after acquiring an additional 8,031 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of TriMas by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company's stock worth $610,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in TriMas by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,993 shares of the industrial products company's stock worth $689,000 after buying an additional 2,703 shares during the last quarter. Institutional investors and hedge funds own 99.42% of the company's stock.

Insider Activity

In related news, Director Jeffrey A. Fielkow purchased 2,500 shares of TriMas stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shawn Sedaghat purchased 554,149 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $24.07 per share, with a total value of $13,338,366.43. Following the acquisition, the director now owns 900,974 shares in the company, valued at approximately $21,686,444.18. The trade was a 159.78 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 806,246 shares of company stock worth $19,338,213. 14.20% of the stock is currently owned by company insiders.

TriMas Stock Performance

TriMas stock traded down $0.34 during trading hours on Monday, hitting $20.99. The company had a trading volume of 745,819 shares, compared to its average volume of 313,119. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The firm has a market cap of $854.63 million, a PE ratio of 32.80 and a beta of 0.55. The firm has a 50-day moving average of $22.39 and a 200 day moving average of $24.39. TriMas Co. has a one year low of $19.33 and a one year high of $28.51.

TriMas Announces Dividend

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

Analyst Ratings Changes

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

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.