First Trust Advisors LP Reduces Position in TriMas Corp (TRS)
First Trust Advisors LP lessened its holdings in shares of TriMas Corp (NASDAQ:TRS) by 34.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,080 shares of the industrial products company’s stock after selling 51,377 shares during the period. First Trust Advisors LP owned 0.21% of TriMas worth $2,649,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC grew its stake in shares of TriMas by 212.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,470 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TriMas by 70.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,755 shares of the industrial products company’s stock valued at $102,000 after buying an additional 1,556 shares during the period. Nkcfo LLC purchased a new stake in shares of TriMas in the 4th quarter valued at approximately $102,000. We Are One Seven LLC purchased a new stake in shares of TriMas in the 4th quarter valued at approximately $138,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of TriMas in the 3rd quarter valued at approximately $203,000. 98.12% of the stock is owned by institutional investors.
Several analysts have recently weighed in on TRS shares. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of TriMas in a research note on Wednesday, January 30th. BidaskClub cut shares of TriMas from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Wells Fargo & Co increased their price target on shares of TriMas from $30.00 to $33.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research lowered shares of TriMas from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. TriMas has a consensus rating of “Buy” and a consensus target price of $34.50.
Shares of TRS stock opened at $31.34 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.68 and a debt-to-equity ratio of 0.47. TriMas Corp has a one year low of $24.70 and a one year high of $32.73. The company has a market capitalization of $1.41 billion, a PE ratio of 17.61, a P/E/G ratio of 3.29 and a beta of 1.58.
TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Thursday, February 28th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. TriMas had a net margin of 9.50% and a return on equity of 13.61%. The firm had revenue of $211.35 million for the quarter, compared to analyst estimates of $205.52 million. During the same period in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that TriMas Corp will post 1.88 earnings per share for the current year.
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TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas markets worldwide. The company operates through four segments: Packaging, Aerospace, Energy, and Engineered Components. The Packaging segment designs and manufactures industrial closure products, including steel drum and plastic enclosures, plastic drum closures, and plastic pail dispensers and plugs; and specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, and other packaging solutions for the cosmetic, personal care, and household product markets, as well as specialty plastic closures for bottles and jars, and dispensing pumps for the food and beverage markets.
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