Systematic Financial Management LP Cuts Stake in TriMas Corp (TRS)

Systematic Financial Management LP cut its position in TriMas Corp (NASDAQ:TRS) by 1.2% during the first quarter, reports. The firm owned 44,445 shares of the industrial products company’s stock after selling 555 shares during the period. Systematic Financial Management LP’s holdings in TriMas were worth $1,344,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in TriMas by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,974,528 shares of the industrial products company’s stock worth $120,825,000 after acquiring an additional 53,153 shares during the period. BlackRock Inc. grew its holdings in TriMas by 2.6% during the fourth quarter. BlackRock Inc. now owns 3,217,701 shares of the industrial products company’s stock worth $87,810,000 after acquiring an additional 81,685 shares during the period. Norges Bank acquired a new stake in TriMas during the fourth quarter worth about $29,427,000. Mawer Investment Management Ltd. grew its holdings in TriMas by 62.3% during the fourth quarter. Mawer Investment Management Ltd. now owns 594,526 shares of the industrial products company’s stock worth $16,225,000 after acquiring an additional 228,316 shares during the period. Finally, Geode Capital Management LLC grew its holdings in TriMas by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 524,716 shares of the industrial products company’s stock worth $14,319,000 after acquiring an additional 42,250 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on TRS. Wells Fargo & Co raised their target price on TriMas from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. BidaskClub lowered TriMas from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 27th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $36.00 target price on shares of TriMas in a report on Monday, February 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $34.50.

TriMas stock traded down $0.19 during midday trading on Friday, hitting $30.53. 795 shares of the company were exchanged, compared to its average volume of 176,161. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 3.20 and a beta of 1.55. TriMas Corp has a fifty-two week low of $25.18 and a fifty-two week high of $33.45. The company has a quick ratio of 1.61, a current ratio of 2.86 and a debt-to-equity ratio of 0.46.

TriMas (NASDAQ:TRS) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $221.29 million for the quarter, compared to analyst estimates of $225.12 million. TriMas had a return on equity of 13.54% and a net margin of 8.86%. TriMas’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. Equities analysts expect that TriMas Corp will post 1.9 EPS for the current year.

In other TriMas news, CFO Robert J. Zalupski sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $32.01, for a total transaction of $80,025.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

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TriMas Profile

TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets worldwide. It operates in three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs, manufactures, and sells specialty closure products, including steel and plastic drum closures, plastic pail dispensers and plugs, and plastic enclosures; specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, airless dispensers, and other packaging solutions for the cosmetic, personal care, and household product markets; and specialty plastic closures for bottles and jars in the food and beverage markets under the Rieke name.

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Institutional Ownership by Quarter for TriMas (NASDAQ:TRS)

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