Quinn Opportunity Partners LLC Buys 4,514 Shares of TriMas Corporation $TRS

Quinn Opportunity Partners LLC lifted its stake in shares of TriMas Corporation (NASDAQ:TRS) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,183 shares of the industrial products company’s stock after purchasing an additional 4,514 shares during the period. Quinn Opportunity Partners LLC owned 0.19% of TriMas worth $2,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TRS. Bank of New York Mellon Corp lifted its stake in TriMas by 0.7% in the first 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 during the last quarter. Envestnet Asset Management Inc. grew its holdings in TriMas by 44.5% during the first quarter. Envestnet Asset Management Inc. now owns 22,765 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 7,016 shares during the period. Pzena Investment Management LLC increased its position 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 during the last quarter. XTX Topco Ltd acquired a new stake in shares of TriMas in the first quarter valued at approximately $489,000. Finally, US Bancorp DE lifted its position in shares of TriMas by 54.4% in the first quarter. US Bancorp DE now owns 18,712 shares of the industrial products company’s stock valued at $438,000 after buying an additional 6,596 shares during the last quarter. 99.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TRS shares. Zacks Research raised shares of TriMas from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. KeyCorp set a $45.00 price target on shares of TriMas and gave the company an “overweight” rating in a research report on Tuesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of TriMas in a research note on Wednesday, October 8th. Finally, BWS Financial reiterated a “buy” rating and set a $45.00 price objective on shares of TriMas in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $45.00.

TriMas Stock Performance

TriMas stock opened at $31.54 on Wednesday. The business has a 50 day moving average of $37.36 and a 200-day moving average of $32.55. The company has a market capitalization of $1.28 billion, a P/E ratio of 29.20 and a beta of 0.64. TriMas Corporation has a 1 year low of $19.33 and a 1 year high of $40.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.44.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. TriMas had a net margin of 4.35% and a return on equity of 12.39%. The firm had revenue of $269.26 million during the quarter, compared to the consensus estimate of $262.05 million. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. TriMas has set its FY 2025 guidance at 2.020-2.120 EPS. On average, equities research analysts predict that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th will be paid a $0.04 dividend. The ex-dividend date is Thursday, November 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. TriMas’s payout ratio is currently 14.81%.

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.