TriMas Corporation $TRS Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in TriMas Corporation (NASDAQ:TRS) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,924,424 shares of the industrial products company’s stock after selling 124,344 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of TriMas worth $84,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TRS. Pzena Investment Management LLC boosted its holdings in TriMas by 0.7% during the first quarter. Pzena Investment Management LLC now owns 2,135,554 shares of the industrial products company’s stock worth $50,036,000 after buying an additional 14,942 shares in the last quarter. Irenic Capital Management LP bought a new stake in TriMas during the first quarter worth approximately $19,997,000. Alta Fox Capital Management LLC bought a new stake in TriMas during the first quarter worth approximately $17,385,000. Charles Schwab Investment Management Inc. boosted its holdings in TriMas by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 614,023 shares of the industrial products company’s stock worth $14,387,000 after buying an additional 8,521 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in TriMas by 34.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 392,210 shares of the industrial products company’s stock worth $9,189,000 after buying an additional 100,610 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors.

TriMas Trading Up 0.1%

TriMas stock opened at $35.88 on Tuesday. The company has a 50 day moving average price of $37.87 and a 200 day moving average price of $30.31. TriMas Corporation has a 52 week low of $19.33 and a 52 week high of $40.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 2.59. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 39.43 and a beta of 0.62.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. TriMas had a net margin of 3.83% and a return on equity of 11.49%. The firm had revenue of $274.76 million during the quarter, compared to analyst estimates of $251.18 million. During the same quarter last year, the business posted $0.43 EPS. The company’s revenue was up 14.2% on a year-over-year basis. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Research analysts forecast that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a $0.04 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. TriMas’s dividend payout ratio is presently 17.58%.

Wall Street Analyst Weigh In

TRS has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of TriMas in a report on Wednesday, October 8th. BWS Financial restated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of TriMas in a report on Wednesday, July 30th. Zacks Research raised shares of TriMas from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. Finally, KeyCorp set a $45.00 price objective on shares of TriMas and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $45.00.

TriMas Profile

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.