Highbridge Capital Management LLC Sells 15,959 Shares of TriMas Corporation (TRS)
Highbridge Capital Management LLC cut its holdings in shares of TriMas Corporation (NASDAQ:TRS) by 34.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,780 shares of the industrial products company’s stock after selling 15,959 shares during the period. Highbridge Capital Management LLC owned about 0.07% of TriMas worth $831,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Teachers Advisors LLC lifted its position in shares of TriMas by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 78,848 shares of the industrial products company’s stock worth $1,636,000 after purchasing an additional 2,268 shares during the period. Renaissance Technologies LLC acquired a new position in shares of TriMas in the 1st quarter worth approximately $357,000. Bank of America Corp DE lifted its position in shares of TriMas by 9.2% in the 1st quarter. Bank of America Corp DE now owns 25,817 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 2,169 shares during the period. Credit Suisse AG lifted its position in shares of TriMas by 12.4% in the 1st quarter. Credit Suisse AG now owns 48,151 shares of the industrial products company’s stock worth $999,000 after purchasing an additional 5,315 shares during the period. Finally, Sei Investments Co. lifted its position in shares of TriMas by 32.2% in the 2nd quarter. Sei Investments Co. now owns 9,276 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 2,259 shares during the period. Institutional investors and hedge funds own 97.66% of the company’s stock.
A number of brokerages have recently issued reports on TRS. BidaskClub upgraded shares of TriMas from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research downgraded shares of TriMas from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Seaport Global Securities downgraded shares of TriMas from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Friday, September 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.25.
TriMas (NASDAQ:TRS) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $209.30 million during the quarter, compared to analyst estimates of $208.89 million. TriMas had a negative net margin of 4.01% and a positive return on equity of 12.18%. TriMas’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. analysts expect that TriMas Corporation will post 1.4 earnings per share for the current fiscal year.
In other TriMas news, insider Paul Swart sold 1,500 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $26.57, for a total transaction of $39,855.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua A. Sherbin sold 13,828 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $25.50, for a total transaction of $352,614.00. The disclosure for this sale can be found here. Insiders sold a total of 18,944 shares of company stock valued at $486,796 in the last quarter. 1.40% of the stock is currently owned by company insiders.
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TriMas Company 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.
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