Wakefield Asset Management LLLP Invests $1.18 Million in TriMas Corporation $TRS

Wakefield Asset Management LLLP purchased a new stake in TriMas Corporation (NASDAQ:TRS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,521 shares of the industrial products company’s stock, valued at approximately $1,179,000. Wakefield Asset Management LLLP owned about 0.08% of TriMas as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in TriMas during the 3rd quarter valued at approximately $48,000. State of Alaska Department of Revenue acquired a new stake in shares of TriMas in the third quarter valued at about $65,000. State of Wyoming purchased a new stake in TriMas during the 2nd quarter worth approximately $65,000. BNP Paribas Financial Markets raised its stake in TriMas by 35.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,319 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 868 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of TriMas in the third quarter valued at about $111,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.

TriMas Stock Up 3.7%

Shares of TriMas stock opened at $38.11 on Wednesday. TriMas Corporation has a one year low of $19.45 and a one year high of $42.00. The company has a market cap of $1.43 billion, a P/E ratio of 12.83 and a beta of 0.55. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.93 and a current ratio of 2.52. The firm has a fifty day moving average of $35.94 and a two-hundred day moving average of $36.03.

TriMas (NASDAQ:TRS) last issued its earnings results on Thursday, February 26th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). TriMas had a return on equity of 12.04% and a net margin of 11.53%.The business had revenue of $155.49 million for the quarter, compared to analysts’ expectations of $192.96 million. During the same period last year, the company posted $0.43 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 27th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, February 27th. TriMas’s dividend payout ratio (DPR) is 5.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered TriMas from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Zacks Research cut TriMas from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. BWS Financial reaffirmed a “buy” rating and set a $45.00 price objective on shares of TriMas in a research report on Monday, March 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of TriMas in a research note on Monday, December 29th. Finally, KeyCorp restated an “overweight” rating and set a $38.00 price target on shares of TriMas in a research note on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

About TriMas

TriMas Corporation is a diversified industrial company headquartered in Bloomfield Hills, Michigan. Established in 1980, TriMas has built a global reputation for designing and manufacturing specialized products that serve a wide array of end markets. The company operates through multiple segments, each focused on high-demand niches where engineered solutions and rigorous quality standards are essential.

The Packaging segment supplies closures, dispensing systems and related components for the personal care, household chemicals, food and beverage, and pharmaceutical markets.