Inspire Investing LLC Cuts Holdings in TriMas Corporation $TRS

Inspire Investing LLC cut its position in shares of TriMas Corporation (NASDAQ:TRS) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,686 shares of the industrial products company’s stock after selling 1,032 shares during the quarter. Inspire Investing LLC’s holdings in TriMas were worth $392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Apexium Financial LP purchased a new position in TriMas during the second quarter worth about $243,000. Jane Street Group LLC purchased a new position in TriMas during the first quarter worth about $868,000. Nexpoint Asset Management L.P. purchased a new position in TriMas during the first quarter worth about $2,334,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TriMas by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,120 shares of the industrial products company’s stock worth $565,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Alta Fox Capital Management LLC purchased a new position in TriMas in the first quarter valued at about $17,385,000. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Stock Performance

NASDAQ TRS opened at $36.74 on Wednesday. The company’s 50 day moving average is $37.90 and its 200-day moving average is $30.35. TriMas Corporation has a 12-month low of $19.33 and a 12-month high of $40.34. The company has a quick ratio of 1.44, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.49 billion, a P/E ratio of 40.37 and a beta of 0.62.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.11. TriMas had a net margin of 3.83% and a return on equity of 11.49%. The company had revenue of $274.76 million for the quarter, compared to analyst estimates of $251.18 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Sell-side analysts predict that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, August 5th. TriMas’s dividend payout ratio is 17.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BWS Financial reiterated a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of TriMas in a research note on Wednesday, July 30th. KeyCorp set a $45.00 target price on shares of TriMas and gave the company an “overweight” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of TriMas in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of TriMas from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, TriMas currently has a consensus rating of “Buy” and an average price target of $45.00.

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.