Point72 Asset Management L.P. Invests $430,000 in TriMas Co. (NASDAQ:TRS)

Point72 Asset Management L.P. acquired a new position in shares of TriMas Co. (NASDAQ:TRS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,476 shares of the industrial products company’s stock, valued at approximately $430,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRS. Sterling Capital Management LLC raised its stake in TriMas by 815.5% in the 4th 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 TriMas in the 4th quarter valued at $202,000. ProShare Advisors LLC bought a new stake in TriMas in the 4th quarter valued at $281,000. Quantbot Technologies LP raised its stake in TriMas by 203.5% in the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 8,031 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in TriMas in the 4th quarter valued at $359,000. Institutional investors own 99.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BWS Financial restated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday, April 30th. Wall Street Zen cut TriMas from a “buy” rating to a “hold” rating in a research note on Saturday.

TriMas Stock Down 2.5%

TRS stock opened at $25.42 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 39.72 and a beta of 0.58. The business’s fifty day moving average price is $23.01 and its two-hundred day moving average price is $24.07. TriMas Co. has a fifty-two week low of $19.33 and a fifty-two week high of $28.51.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $241.67 million for the quarter, compared to analysts’ expectations of $235.41 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. On average, equities analysts anticipate that TriMas Co. will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, May 6th. TriMas’s payout ratio is 20.78%.

Insiders Place Their Bets

In other TriMas news, CFO Scott A. Mell sold 2,218 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.54, for a total transaction of $49,993.72. Following the sale, the chief financial officer now directly owns 26,288 shares in the company, valued at $592,531.52. This represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Fielkow acquired 2,500 shares of TriMas stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the completion of the purchase, the director now directly owns 11,013 shares of the company’s stock, valued at approximately $228,850.14. This represents a 29.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 1,772,695 shares of company stock worth $43,788,704 in the last 90 days. Company insiders own 14.20% of the company’s stock.

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.