Virginia Retirement Systems ET AL lessened its position in shares of TriMas Corp (NYSE:TRS) by 59.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,800 shares of the industrial products company’s stock after selling 18,500 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in TriMas Corp were worth $267,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in TriMas Corp during the second quarter valued at $248,000. BNP Paribas Arbitrage SA lifted its holdings in TriMas Corp by 231.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,742 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 5,404 shares in the last quarter. Bernzott Capital Advisors lifted its holdings in TriMas Corp by 5.2% during the second quarter. Bernzott Capital Advisors now owns 759,980 shares of the industrial products company’s stock valued at $15,846,000 after purchasing an additional 37,325 shares in the last quarter. Comerica Bank lifted its holdings in TriMas Corp by 51.5% during the second quarter. Comerica Bank now owns 282,119 shares of the industrial products company’s stock valued at $6,235,000 after purchasing an additional 95,848 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in TriMas Corp by 1.9% during the second quarter. Legal & General Group Plc now owns 15,985 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 301 shares in the last quarter.
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TRS has been the topic of several recent analyst reports. BidaskClub downgraded shares of TriMas Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of TriMas Corp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Saturday, July 1st. ValuEngine raised shares of TriMas Corp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, J P Morgan Chase & Co raised shares of TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 price objective on the stock in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.25.
TriMas Corp (NYSE:TRS) opened at 24.60 on Tuesday. The stock’s market capitalization is $1.12 billion. The firm’s 50-day moving average is $23.85 and its 200 day moving average is $22.13. TriMas Corp has a 12-month low of $17.00 and a 12-month high of $25.00.
TriMas Corp (NYSE:TRS) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. TriMas Corp had a net margin of 6.96% and a return on equity of 11.47%. The business had revenue of $213.39 million for the quarter, compared to analysts’ expectations of $205.22 million. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts expect that TriMas Corp will post $1.43 EPS for the current year.
In related news, Director Nancy Gougarty sold 5,882 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $24.80, for a total value of $145,873.60. Following the sale, the director now directly owns 19,293 shares of the company’s stock, valued at approximately $478,466.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul Swart sold 3,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total transaction of $74,280.00. The disclosure for this sale can be found here.
TriMas Corp Profile
TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.
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