308,622 Shares in TriMas Corporation $TRS Purchased by Blue Grotto Capital LLC

Blue Grotto Capital LLC purchased a new position in TriMas Corporation (NASDAQ:TRS) during the third quarter, HoldingsChannel reports. The institutional investor purchased 308,622 shares of the industrial products company’s stock, valued at approximately $11,925,000. TriMas makes up about 1.4% of Blue Grotto Capital LLC’s holdings, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of TriMas during the 3rd quarter worth about $5,843,000. Wolverine Asset Management LLC acquired a new stake in shares of TriMas in the third quarter worth $2,318,000. Oliver Luxxe Assets LLC purchased a new position in shares of TriMas in the 3rd quarter valued at $1,194,000. Arrowstreet Capital Limited Partnership raised its stake in shares of TriMas by 197.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 249,929 shares of the industrial products company’s stock valued at $7,150,000 after acquiring an additional 165,925 shares during the period. Finally, Wakefield Asset Management LLLP acquired a new position in shares of TriMas during the 3rd quarter valued at $1,179,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TRS. KeyCorp reaffirmed an “overweight” rating and set a $38.00 price target on shares of TriMas in a research report on Thursday, February 26th. Wall Street Zen cut TriMas from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriMas in a research report on Monday, December 29th. BWS Financial reiterated a “buy” rating and set a $45.00 target price on shares of TriMas in a report on Monday, March 2nd. Finally, Zacks Research lowered TriMas from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

TriMas Price Performance

Shares of TRS stock opened at $35.29 on Friday. The firm has a fifty day moving average of $35.97 and a two-hundred day moving average of $36.03. The firm has a market cap of $1.33 billion, a P/E ratio of 11.88 and a beta of 0.55. TriMas Corporation has a 1-year low of $19.45 and a 1-year high of $42.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.52 and a quick ratio of 1.93.

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 net margin of 11.53% and a return on equity of 12.04%. The company had revenue of ($139.97) million during the quarter, compared to analyst estimates of $192.96 million. During the same quarter last year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 27th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, February 27th. This represents a $0.16 annualized dividend and a yield of 0.5%. TriMas’s dividend payout ratio is presently 5.39%.

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.