TriMas Co. (NASDAQ:TRS) Shares Sold by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on May 6th, 2023

Oppenheimer Asset Management Inc. lowered its position in TriMas Co. (NASDAQ:TRS – Get Rating) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,085 shares of the industrial products company’s stock after selling 3,785 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of TriMas worth $807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of TriMas by 8.4% in the 4th quarter. SG Americas Securities LLC now owns 10,913 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 848 shares during the period. Rockefeller Capital Management L.P. lifted its stake in TriMas by 308.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,298 shares of the industrial products company’s stock valued at $32,000 after buying an additional 980 shares in the last quarter. UBS Group AG lifted its stake in TriMas by 80.9% in the 3rd quarter. UBS Group AG now owns 3,614 shares of the industrial products company’s stock valued at $91,000 after buying an additional 1,616 shares in the last quarter. Sei Investments Co. lifted its stake in TriMas by 1.0% in the 1st quarter. Sei Investments Co. now owns 175,437 shares of the industrial products company’s stock valued at $5,630,000 after buying an additional 1,704 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in TriMas by 36.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,916 shares of the industrial products company’s stock valued at $192,000 after buying an additional 1,840 shares in the last quarter. Institutional investors and hedge funds own 99.94% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Samuel Valenti III sold 4,000 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $29.68, for a total value of $118,720.00. Following the transaction, the chairman now directly owns 8,148 shares of the company’s stock, valued at approximately $241,832.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Samuel Valenti III sold 4,000 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $29.68, for a total value of $118,720.00. Following the transaction, the chairman now directly owns 8,148 shares of the company’s stock, valued at approximately $241,832.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Fielkow bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average cost of $25.26 per share, for a total transaction of $25,260.00. Following the completion of the transaction, the director now directly owns 4,445 shares in the company, valued at approximately $112,280.70. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TRS has been the topic of a number of recent research reports. StockNews.com initiated coverage on TriMas in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet lowered TriMas from a “b” rating to a “c” rating in a research note on Monday.

TriMas Trading Up 1.2 %

Shares of TriMas stock opened at $25.35 on Friday. TriMas Co. has a fifty-two week low of $21.41 and a fifty-two week high of $31.89. The firm has a market cap of $1.05 billion, a PE ratio of 18.64 and a beta of 0.71. The business’s fifty day moving average is $27.47 and its two-hundred day moving average is $27.90. The company has a quick ratio of 1.48, a current ratio of 2.63 and a debt-to-equity ratio of 0.61.

TriMas (NASDAQ:TRS – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. TriMas had a return on equity of 10.49% and a net margin of 6.50%. The company had revenue of $215.50 million for the quarter, compared to analyst estimates of $208.00 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts anticipate that TriMas Co. will post 2.06 earnings per share for the current year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Thursday, May 4th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, May 3rd. TriMas’s dividend payout ratio is presently 11.76%.

TriMas Profile

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TriMas Corp. engages in the manufacture of industrial products for customers in the consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets. It operates through the following segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs and manufactures dispensing products, including foaming pumps, lotion and hand soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers, polymeric and steel caps and closures, including food lids, flip-top closures, child resistant caps, drum and pail closures, and flexible spouts, polymeric jar products, and fully integrated dispensers for fill-ready bag-in-box applications, all for a variety of consumer product markets including, but not limited to, beauty and personal care, home care, food and beverage, and pharmaceutical and nutraceutical, as well as the industrial market.