Rhumbline Advisers Lowers Position in TriMas Corp (TRS)
Rhumbline Advisers trimmed its position in TriMas Corp (NYSE:TRS) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,847 shares of the industrial products company’s stock after selling 1,725 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of TriMas Corp worth $1,164,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TRS. Sei Investments Co. increased its position in TriMas Corp by 32.2% in the second 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. GW&K Investment Management LLC acquired a new stake in TriMas Corp in the second quarter worth about $205,000. Renaissance Technologies LLC acquired a new stake in TriMas Corp in the first quarter worth about $357,000. Tudor Investment Corp ET AL increased its position in TriMas Corp by 14.6% in the first quarter. Tudor Investment Corp ET AL now owns 20,679 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 2,635 shares during the period. Finally, Bank of America Corp DE increased its position in TriMas Corp by 9.2% in the first 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.
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TriMas Corp (TRS) opened at 26.65 on Friday. The stock’s 50 day moving average price is $24.42 and its 200 day moving average price is $22.31. TriMas Corp has a 52-week low of $17.26 and a 52-week high of $27.00. The firm’s market capitalization is $1.22 billion.
TriMas Corp (NYSE:TRS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $213.39 million during the quarter, compared to analysts’ expectations of $205.22 million. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that TriMas Corp will post $1.43 earnings per share for the current fiscal year.
In other news, Director Nancy Gougarty sold 5,882 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $24.80, for a total value of $145,873.60. Following the completion of the sale, the director now owns 19,293 shares of the company’s stock, valued at $478,466.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Swart sold 3,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total value of $74,280.00. The disclosure for this sale can be found here.
A number of analysts recently commented on the company. BidaskClub lowered TriMas Corp from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $24.00 price objective (up from $22.00) on shares of TriMas Corp in a research report on Monday, July 31st. J P Morgan Chase & Co upgraded TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Wednesday, August 9th. Zacks Investment Research lowered TriMas Corp from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, ValuEngine lowered TriMas Corp from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $24.80.
TriMas Corp 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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