Verition Fund Management LLC acquired a new stake in TriMas Co. (NASDAQ:TRS) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 53,991 shares of the industrial products company’s stock, valued at approximately $1,637,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers raised its holdings in TriMas by 8.2% in the fourth quarter. Rhumbline Advisers now owns 77,697 shares of the industrial products company’s stock worth $2,461,000 after purchasing an additional 5,898 shares during the period. Citigroup Inc. increased its position in shares of TriMas by 232.5% during the fourth quarter. Citigroup Inc. now owns 8,473 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 5,925 shares in the last quarter. Credit Suisse AG increased its position in shares of TriMas by 54.0% during the fourth quarter. Credit Suisse AG now owns 47,491 shares of the industrial products company’s stock worth $1,505,000 after acquiring an additional 16,652 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of TriMas by 3.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,131 shares of the industrial products company’s stock worth $796,000 after acquiring an additional 746 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in shares of TriMas during the fourth quarter worth $239,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
In other TriMas news, CEO Thomas A. Amato sold 15,000 shares of TriMas stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $32.14, for a total value of $482,100.00. Following the completion of the sale, the chief executive officer now owns 262,224 shares in the company, valued at approximately $8,427,879.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey M. Greene sold 6,500 shares of TriMas stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $32.25, for a total transaction of $209,625.00. Following the completion of the sale, the director now owns 8,619 shares of the company’s stock, valued at approximately $277,962.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,025 shares of company stock valued at $1,447,819. 0.80% of the stock is currently owned by corporate insiders.
TriMas (NASDAQ:TRS) last posted its earnings results on Thursday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $196.80 million. TriMas had a negative net margin of 10.05% and a positive return on equity of 11.87%. On average, equities analysts anticipate that TriMas Co. will post 2.17 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded shares of TriMas from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research report on Wednesday, June 30th.
TriMas Company Profile
TriMas Corporation manufactures and provides products for consumer products, aerospace, and industrial end markets worldwide. It operates in three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment offers specialty polymeric and steel closure and dispensing systems, including 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, flexible spouts, and agricultural closures; polymeric jar products; integrated dispensers; bag-in-box products; aseptic closures; industrial closures and flex spouts; and single-bodied and assembled caps and closures under the Rieke, Taplast, Affaba & Ferrari, Stolz, and Rapak brands.
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