Sendero Wealth Management LLC Decreases Holdings in TriMas Co. (NASDAQ:TRS)

Sendero Wealth Management LLC cut its stake in TriMas Co. (NASDAQ:TRS) by 23.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,272 shares of the industrial products company’s stock after selling 3,749 shares during the quarter. Sendero Wealth Management LLC’s holdings in TriMas were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TRS. Aristides Capital LLC purchased a new stake in shares of TriMas during the 2nd quarter valued at about $245,000. Intech Investment Management LLC purchased a new stake in shares of TriMas during the third quarter valued at approximately $269,000. Paloma Partners Management Co acquired a new position in shares of TriMas during the third quarter worth $293,000. XTX Topco Ltd purchased a new position in shares of TriMas in the third quarter valued at $371,000. Finally, Algert Global LLC grew its holdings in TriMas by 4.2% during the 2nd quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 639 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRS. StockNews.com upgraded shares of TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Tuesday, November 5th.

TriMas Stock Up 1.7 %

TRS stock opened at $23.54 on Thursday. 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 firm has a 50 day simple moving average of $25.36 and a 200-day simple moving average of $25.46. The company has a market capitalization of $955.02 million, a P/E ratio of 36.78 and a beta of 0.67. TriMas Co. has a twelve month low of $22.24 and a twelve month high of $28.51.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.14). The company had revenue of $229.36 million for the quarter, compared to analyst estimates of $239.33 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. TriMas’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 earnings per share. On average, equities research 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 was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, November 5th. TriMas’s payout ratio is currently 25.00%.

TriMas 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.