Royal Bank of Canada Has $31.94 Million Stake in TriMas Corp (TRS)

Royal Bank of Canada lowered its position in TriMas Corp (NYSE:TRS) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,531,764 shares of the industrial products company’s stock after selling 18,998 shares during the period. Royal Bank of Canada owned about 3.35% of TriMas Corp worth $31,937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRS. Swiss National Bank increased its holdings in TriMas Corp by 2.5% during the first quarter. Swiss National Bank now owns 75,000 shares of the industrial products company’s stock worth $1,556,000 after buying an additional 1,800 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in TriMas Corp by 1.5% during the first quarter. Parametric Portfolio Associates LLC now owns 97,862 shares of the industrial products company’s stock worth $2,031,000 after buying an additional 1,476 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TriMas Corp by 26.9% during the first quarter. JPMorgan Chase & Co. now owns 120,754 shares of the industrial products company’s stock worth $2,506,000 after buying an additional 25,594 shares during the last quarter. American International Group Inc. increased its holdings in TriMas Corp by 7.1% during the first quarter. American International Group Inc. now owns 27,762 shares of the industrial products company’s stock worth $576,000 after buying an additional 1,841 shares during the last quarter. Finally, Teachers Advisors LLC increased its holdings in TriMas Corp by 3.0% during the first quarter. Teachers Advisors LLC now owns 78,848 shares of the industrial products company’s stock worth $1,636,000 after buying an additional 2,268 shares during the last quarter.

TriMas Corp (NYSE:TRS) opened at 27.80 on Tuesday. TriMas Corp has a 52-week low of $17.26 and a 52-week high of $28.40. The company’s market capitalization is $1.27 billion. The stock has a 50 day moving average of $26.21 and a 200-day moving average of $23.12.

TriMas Corp (NYSE:TRS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The business had revenue of $213.39 million for the quarter, compared to analyst estimates of $205.22 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that TriMas Corp will post $1.42 earnings per share for the current fiscal year.

In related news, Director Nancy Gougarty sold 5,882 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $24.80, for a total value of $145,873.60. Following the sale, the director now owns 19,293 shares in the company, valued at approximately $478,466.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Swart sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total value of $74,280.00. The disclosure for this sale can be found here.

A number of research firms recently issued reports on TRS. Seaport Global Securities downgraded shares of TriMas Corp from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a report on Friday, September 15th. ValuEngine upgraded shares of TriMas Corp from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research lowered shares of TriMas Corp from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. J P Morgan Chase & Co upgraded shares of TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 target price for the company in a research report on Wednesday, August 9th. Finally, BidaskClub lowered shares of TriMas Corp from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. TriMas Corp presently has an average rating of “Hold” and an average price target of $25.25.

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TriMas Corp Profile

TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.

Institutional Ownership by Quarter for TriMas Corp (NYSE:TRS)

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