Massachusetts Financial Services Co. MA Decreases Stock Holdings in TriMas Co. (NASDAQ:TRS)

Massachusetts Financial Services Co. MA reduced its holdings in shares of TriMas Co. (NASDAQ:TRS) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,059,475 shares of the industrial products company’s stock after selling 29,832 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.61% of TriMas worth $27,048,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc grew its stake in TriMas by 216.4% during the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock worth $10,467,000 after buying an additional 280,431 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of TriMas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock worth $80,298,000 after purchasing an additional 51,701 shares in the last quarter. Quest Partners LLC lifted its position in shares of TriMas by 275.2% during the second quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company’s stock worth $850,000 after purchasing an additional 24,400 shares in the last quarter. American Century Companies Inc. lifted its position in shares of TriMas by 12.5% during the second quarter. American Century Companies Inc. now owns 65,505 shares of the industrial products company’s stock worth $1,674,000 after purchasing an additional 7,304 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of TriMas by 2.3% during the first quarter. Vanguard Group Inc. now owns 4,358,524 shares of the industrial products company’s stock worth $116,503,000 after purchasing an additional 100,068 shares in the last quarter. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

TriMas Trading Up 0.1 %

TRS opened at $26.99 on Tuesday. The stock has a market capitalization of $1.09 billion, a PE ratio of 42.17 and a beta of 0.66. The firm’s fifty day moving average price is $26.34 and its 200 day moving average price is $25.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. TriMas Co. has a 12-month low of $22.45 and a 12-month high of $28.51.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.14). The company had revenue of $229.36 million during the quarter, compared to analyst estimates of $239.33 million. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. As a group, research analysts expect that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.59%. TriMas’s payout ratio is 25.00%.

Wall Street Analysts Forecast Growth

TRS has been the topic of a number of recent research reports. StockNews.com raised shares of TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. BWS Financial reissued a “buy” rating and set a $40.00 target price on shares of TriMas in a research report on Tuesday, November 5th.

TriMas 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.