First Manhattan CO. LLC. Trims Stake in TriMas Co. (NASDAQ:TRS)

First Manhattan CO. LLC. cut its position in shares of TriMas Co. (NASDAQ:TRS) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 363,537 shares of the industrial products company’s stock after selling 18,970 shares during the period. First Manhattan CO. LLC.’s holdings in TriMas were worth $8,939,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in TriMas by 341.3% in the 3rd quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock worth $1,755,000 after acquiring an additional 53,203 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in TriMas by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock worth $982,000 after purchasing an additional 1,227 shares during the period. Bank of New York Mellon Corp raised its position in TriMas by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company’s stock valued at $6,052,000 after purchasing an additional 11,125 shares in the last quarter. Bellecapital International Ltd. purchased a new stake in shares of TriMas in the 4th quarter worth $29,160,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TriMas by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company’s stock worth $14,889,000 after buying an additional 22,656 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and issued a $40.00 price objective on shares of TriMas in a research note on Wednesday, April 30th.

TriMas Stock Performance

Shares of NASDAQ:TRS opened at $24.18 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $982.97 million, a price-to-earnings ratio of 37.78 and a beta of 0.58. The firm has a 50 day moving average of $22.80 and a 200 day moving average of $24.19. TriMas Co. has a 52 week low of $19.33 and a 52 week high of $28.51.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The firm had revenue of $241.67 million during the quarter, compared to analysts’ expectations of $235.41 million. During the same period in the prior year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 6th. TriMas’s payout ratio is currently 20.78%.

Insider Buying and Selling

In related news, CFO Scott A. Mell sold 2,218 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the transaction, the chief financial officer now directly owns 26,288 shares of the company’s stock, valued at $592,531.52. This represents a 7.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey A. Fielkow purchased 2,500 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $20.78 per share, with a total value of $51,950.00. Following the completion of the purchase, the director now owns 11,013 shares of the company’s stock, valued at $228,850.14. The trade was a 29.37 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 929,634 shares of company stock worth $22,278,549 in the last 90 days. 14.20% of the stock is owned by corporate insiders.

About TriMas

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.