Barington Capital Group L.P. Purchases 43,700 Shares of TriMas Corp (TRS)
Barington Capital Group L.P. increased its position in shares of TriMas Corp (NYSE:TRS) by 13.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,367 shares of the industrial products company’s stock after acquiring an additional 43,700 shares during the period. TriMas Corp comprises 8.5% of Barington Capital Group L.P.’s holdings, making the stock its 6th largest holding. Barington Capital Group L.P. owned approximately 0.81% of TriMas Corp worth $7,680,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its position in shares of TriMas Corp by 148.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,085 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 3,041 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of TriMas Corp by 231.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,742 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 5,404 shares in the last quarter. Sei Investments Co. boosted its position in shares of TriMas Corp by 32.2% during the 2nd quarter. Sei Investments Co. now owns 9,276 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 2,259 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in shares of TriMas Corp during the 2nd quarter worth approximately $205,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of TriMas Corp during the 2nd quarter worth approximately $248,000.
Shares of TriMas Corp (TRS) traded up 1.27% during mid-day trading on Friday, reaching $27.95. 128,015 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $25.59 and a 200 day moving average price of $22.83. The firm’s market cap is $1.28 billion. TriMas Corp has a 52-week low of $17.26 and a 52-week high of $28.40.
TriMas Corp (NYSE:TRS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The firm had revenue of $213.39 million for the quarter, compared to analyst estimates of $205.22 million. TriMas Corp had a net margin of 6.96% and a return on equity of 11.47%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Analysts forecast that TriMas Corp will post $1.43 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of TriMas Corp from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Seaport Global Securities lowered shares of TriMas Corp from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Friday, September 15th. BidaskClub upgraded shares of TriMas Corp from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 27th. Jefferies Group LLC reiterated a “hold” rating and set a $24.00 price target (up previously from $22.00) on shares of TriMas Corp in a research report on Monday, July 31st. Finally, ValuEngine upgraded shares of TriMas Corp from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.25.
In other news, Director Nancy Gougarty sold 5,882 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.80, for a total value of $145,873.60. Following the transaction, the director now owns 19,293 shares of the company’s stock, valued at approximately $478,466.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Swart sold 3,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $24.76, for a total transaction of $74,280.00. The disclosure for this sale can be found here.
TriMas Corp 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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