Principal Financial Group Inc. Grows Stock Position in TriMas Corporation $TRS

Principal Financial Group Inc. boosted its holdings in TriMas Corporation (NASDAQ:TRS) by 65.3% during the first quarter, HoldingsChannel reports. The fund owned 73,249 shares of the industrial products company’s stock after buying an additional 28,924 shares during the period. Principal Financial Group Inc.’s holdings in TriMas were worth $2,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRS. SG Americas Securities LLC lifted its stake in shares of TriMas by 505.8% in the 4th quarter. SG Americas Securities LLC now owns 84,639 shares of the industrial products company’s stock valued at $3,000,000 after purchasing an additional 70,667 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of TriMas during the 3rd quarter worth $9,419,000. Allspring Global Investments Holdings LLC increased its position in shares of TriMas by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,562,028 shares of the industrial products company’s stock worth $92,976,000 after purchasing an additional 73,638 shares during the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of TriMas during the 4th quarter worth about $3,527,000. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in TriMas in the 4th quarter valued at about $462,000. Institutional investors and hedge funds own 99.42% of the company’s stock.

TriMas Trading Down 2.2%

Shares of NASDAQ TRS opened at $39.33 on Thursday. The company has a current ratio of 4.85, a quick ratio of 4.50 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.41 billion, a PE ratio of 1.63 and a beta of 0.59. TriMas Corporation has a twelve month low of $30.43 and a twelve month high of $45.42. The stock has a fifty day simple moving average of $41.31 and a 200-day simple moving average of $38.36.

TriMas (NASDAQ:TRS) last posted its earnings results on Thursday, April 30th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.24). TriMas had a return on equity of 8.38% and a net margin of 93.79%.The firm had revenue of $168.28 million for the quarter, compared to analyst estimates of $158.24 million. During the same period in the previous year, the company posted $0.46 EPS. TriMas’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts forecast that TriMas Corporation will post 1.67 earnings per share for the current year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. TriMas’s dividend payout ratio is 0.66%.

Insider Activity

In other news, Director Herbert K. Parker sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $45.03, for a total value of $675,450.00. Following the completion of the transaction, the director owned 57,762 shares of the company’s stock, valued at approximately $2,601,022.86. This trade represents a 20.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

TRS has been the topic of a number of recent analyst reports. Zacks Research raised shares of TriMas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of TriMas from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, TriMas has an average rating of “Moderate Buy” and a consensus price target of $41.50.

TriMas Profile

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.