Alpha Wave Global LP increased its position in shares of TriMas Corporation (NASDAQ:TRS – Free Report) by 363.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,342 shares of the industrial products company’s stock after acquiring an additional 268,510 shares during the period. TriMas comprises 1.3% of Alpha Wave Global LP’s investment portfolio, making the stock its 10th biggest position. Alpha Wave Global LP owned approximately 0.84% of TriMas worth $13,228,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TriMas by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,120 shares of the industrial products company’s stock worth $565,000 after purchasing an additional 1,014 shares in the last quarter. Jane Street Group LLC purchased a new stake in TriMas during the 1st quarter worth approximately $868,000. AE Wealth Management LLC purchased a new stake in TriMas during the 2nd quarter worth approximately $212,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in TriMas during the 2nd quarter worth approximately $230,000. Finally, LSV Asset Management purchased a new position in TriMas in the 2nd quarter valued at approximately $498,000. 99.42% of the stock is currently owned by hedge funds and other institutional investors.
TriMas Stock Down 0.7%
TriMas stock opened at $35.04 on Friday. TriMas Corporation has a fifty-two week low of $19.45 and a fifty-two week high of $42.00. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 11.80 and a beta of 0.55. The stock’s fifty day moving average is $35.94 and its two-hundred day moving average is $36.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.93 and a current ratio of 2.52.
TriMas (NASDAQ:TRS – Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The industrial products company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of ($139.97) million during the quarter, compared to analysts’ expectations of $192.96 million. TriMas had a return on equity of 12.04% and a net margin of 11.53%.TriMas’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Analysts predict that TriMas Corporation will post 1.69 EPS for the current fiscal year.
TriMas Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 27th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, February 27th. TriMas’s dividend payout ratio (DPR) is 5.39%.
Analyst Ratings Changes
TRS has been the subject of several research reports. Wall Street Zen downgraded shares of TriMas from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriMas in a report on Monday, December 29th. KeyCorp reissued an “overweight” rating and set a $38.00 target price on shares of TriMas in a research note on Thursday, February 26th. BWS Financial restated a “buy” rating and set a $45.00 price target on shares of TriMas in a report on Monday, March 2nd. Finally, Zacks Research cut TriMas from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.50.
Read Our Latest Analysis on TriMas
TriMas Profile
(Free Report)
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.
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