Bank of America Corp DE Has $86.40 Million Holdings in TriMas Co. (NASDAQ:TRS)

Bank of America Corp DE raised its holdings in shares of TriMas Co. (NASDAQ:TRS) by 127.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,513,638 shares of the industrial products company’s stock after buying an additional 1,967,738 shares during the quarter. Bank of America Corp DE owned about 8.66% of TriMas worth $86,400,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC grew its position 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 bought a new stake in shares of TriMas during the fourth quarter worth $202,000. Quantbot Technologies LP grew its holdings in shares of 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 purchasing an additional 8,031 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of TriMas during the fourth quarter worth $359,000. Finally, MetLife Investment Management LLC grew its holdings in shares of TriMas by 5.9% during the fourth 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. 99.42% of the stock is currently owned by institutional investors and hedge funds.

TriMas Price Performance

TriMas stock opened at $24.18 on Monday. The business’s 50-day simple moving average is $22.80 and its 200 day simple moving average is $24.14. The stock has a market cap of $982.97 million, a price-to-earnings ratio of 37.78 and a beta of 0.58. TriMas Co. has a 12-month low of $19.33 and a 12-month high of $28.51. 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 (NASDAQ:TRS) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The firm had revenue of $241.67 million for the quarter, compared to analyst estimates of $235.41 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that TriMas Co. will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders 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 dividend yield of 0.66%. The ex-dividend date is Tuesday, May 6th. TriMas’s dividend payout ratio is currently 20.78%.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $40.00 target price on shares of TriMas in a report on Wednesday, April 30th.

Insider Transactions at TriMas

In other TriMas news, CFO Scott A. Mell sold 2,218 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total value of $49,993.72. Following the completion of the transaction, the chief financial officer now directly owns 26,288 shares in the company, valued at $592,531.52. This trade represents a 7.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shawn Sedaghat purchased 249,597 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $23.83 per share, with a total value of $5,947,896.51. Following the completion of the purchase, the director now owns 346,825 shares of the company’s stock, valued at approximately $8,264,839.75. This represents a 256.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 929,634 shares of company stock valued at $22,278,549 over the last 90 days. 14.20% of the stock is owned by company insiders.

TriMas Company 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.