TriMas Co. (NASDAQ:TRS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in TriMas Co. (NASDAQ:TRS) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,093,535 shares of the industrial products company’s stock after selling 2,037 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of TriMas worth $79,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its holdings in shares of TriMas by 5.7% in the first quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock worth $239,000 after buying an additional 478 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of TriMas by 5.0% during the 4th quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 716 shares in the last quarter. Diversified Trust Co lifted its stake in shares of TriMas by 5.0% in the 2nd quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock valued at $581,000 after purchasing an additional 1,072 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of TriMas by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,870 shares of the industrial products company’s stock valued at $639,000 after purchasing an additional 1,478 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in TriMas by 19.8% in the fourth quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 2,500 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors.

TriMas Price Performance

Shares of TRS stock traded down $0.25 during trading hours on Tuesday, hitting $24.60. The company had a trading volume of 3,389 shares, compared to its average volume of 223,200. The firm’s fifty day moving average is $25.20 and its 200 day moving average is $25.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82. The firm has a market capitalization of $999.99 million, a price-to-earnings ratio of 25.62 and a beta of 0.67. TriMas Co. has a 12 month low of $22.45 and a 12 month high of $27.89.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). TriMas had a net margin of 4.44% and a return on equity of 9.61%. The business had revenue of $240.50 million during the quarter, compared to analyst estimates of $238.63 million. During the same quarter last year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts predict that TriMas Co. will post 1.76 EPS for the current fiscal year.

TriMas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.65%. TriMas’s payout ratio is presently 16.49%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and set a $40.00 price objective on shares of TriMas in a report on Wednesday, July 31st.

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.