Shawn Sedaghat Acquires 254,400 Shares of TriMas Co. (NASDAQ:TRS) Stock

TriMas Co. (NASDAQ:TRS) Director Shawn Sedaghat bought 254,400 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $25.39 per share, for a total transaction of $6,459,216.00. Following the completion of the acquisition, the director now owns 1,295,692 shares of the company’s stock, valued at $32,897,619.88. This trade represents a 24.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shawn Sedaghat also recently made the following trade(s):

• On Tuesday, May 20th, Shawn Sedaghat acquired 104,957 shares of TriMas stock. The shares were acquired at an average price of $25.70 per share, with a total value of $2,697,394.90.
• On Wednesday, April 30th, Shawn Sedaghat bought 123,388 shares of TriMas stock. The stock was acquired at an average price of $23.83 per share, for a total transaction of $2,940,336.04.
• On Monday, March 10th, Shawn Sedaghat bought 554,149 shares of TriMas stock. The shares were acquired at an average cost of $24.07 per share, with a total value of $13,338,366.43.
• On Friday, March 7th, Shawn Sedaghat purchased 249,597 shares of TriMas stock. The stock was acquired at an average price of $23.83 per share, for a total transaction of $5,947,896.51.

TriMas Trading Down 0.7%

Shares of NASDAQ TRS opened at $25.65 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. TriMas Co. has a 12 month low of $19.33 and a 12 month high of $28.51. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 40.08 and a beta of 0.58. The business has a fifty day simple moving average of $22.98 and a 200-day simple moving average of $24.06.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $241.67 million for the quarter, compared to analyst estimates of $235.41 million. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. Sell-side analysts predict that TriMas Co. will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. TriMas’s payout ratio is currently 20.78%.

Institutional Trading of TriMas

Several hedge funds and other institutional investors have recently modified their holdings of TRS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TriMas by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 834 shares during the period. Sterling Capital Management LLC lifted its position in TriMas by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,158 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TriMas by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock valued at $982,000 after buying an additional 1,227 shares during the period. MetLife Investment Management LLC grew its holdings in shares of TriMas by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 1,378 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of TriMas by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 247,761 shares of the industrial products company’s stock valued at $5,805,000 after acquiring an additional 1,664 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

Analysts Set New Price Targets

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

TriMas Company 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.