Pzena Investment Management LLC Sells 117,955 Shares of TriMas Co. (NASDAQ:TRS)

Pzena Investment Management LLC cut its holdings in TriMas Co. (NASDAQ:TRS) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,142,547 shares of the industrial products company’s stock after selling 117,955 shares during the period. Pzena Investment Management LLC owned about 5.28% of TriMas worth $54,699,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TRS. Impax Asset Management Group plc grew its position in shares of TriMas by 216.4% in the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock valued at $10,467,000 after purchasing an additional 280,431 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in TriMas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock valued at $80,298,000 after acquiring an additional 51,701 shares during the last quarter. Quest Partners LLC grew its position in TriMas by 275.2% in the second quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company’s stock valued at $850,000 after acquiring an additional 24,400 shares during the last quarter. American Century Companies Inc. raised its stake in TriMas by 12.5% during the second quarter. American Century Companies Inc. now owns 65,505 shares of the industrial products company’s stock worth $1,674,000 after acquiring an additional 7,304 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of TriMas by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,358,524 shares of the industrial products company’s stock worth $116,503,000 after acquiring an additional 100,068 shares during the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRS. StockNews.com raised TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. BWS Financial restated a “buy” rating and set a $40.00 price target on shares of TriMas in a report on Tuesday, November 5th.

TriMas Trading Down 0.0 %

TRS stock traded down $0.01 during midday trading on Wednesday, hitting $26.20. The stock had a trading volume of 19,329 shares, compared to its average volume of 267,325. TriMas Co. has a 1-year low of $22.45 and a 1-year high of $28.51. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average price of $26.20 and a two-hundred day moving average price of $25.85. The firm has a market cap of $1.06 billion, a P/E ratio of 40.95 and a beta of 0.66.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.14). The company had revenue of $229.36 million during the quarter, compared to analysts’ expectations of $239.33 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, sell-side analysts predict that TriMas Co. will post 1.74 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.61%. TriMas’s payout ratio is currently 25.00%.

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.