First Eagle Investment Management LLC Boosts Holdings in TriMas Co. (NASDAQ:TRS)

First Eagle Investment Management LLC raised its stake in shares of TriMas Co. (NASDAQ:TRS) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 257,506 shares of the industrial products company’s stock after acquiring an additional 4,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in TriMas were worth $6,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Western Standard LLC lifted its holdings in TriMas by 86.6% during the third quarter. Western Standard LLC now owns 169,069 shares of the industrial products company’s stock valued at $4,316,000 after purchasing an additional 78,450 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in TriMas by 216.4% during 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 in the last quarter. Barclays PLC lifted its holdings in TriMas by 341.3% during the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock valued at $1,755,000 after purchasing an additional 53,203 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in TriMas by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock valued at $982,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of TriMas by 74.4% in the third quarter. Jane Street Group LLC now owns 82,621 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 35,258 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TriMas

In other news, Director Shawn Sedaghat acquired 554,149 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $24.07 per share, for a total transaction of $13,338,366.43. Following the completion of the transaction, the director now owns 900,974 shares in the company, valued at approximately $21,686,444.18. This trade represents a 159.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Mell sold 2,218 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the sale, the chief financial officer now owns 26,288 shares of the company’s stock, valued at approximately $592,531.52. The trade was a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 806,246 shares of company stock valued at $19,338,213. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reissued a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Friday, February 28th.

TriMas Stock Performance

NASDAQ:TRS opened at $24.15 on Friday. The company’s 50-day moving average price is $23.57 and its 200-day moving average price is $25.05. 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 company has a market cap of $980.08 million, a P/E ratio of 37.73 and a beta of 0.65. TriMas Co. has a twelve month low of $19.33 and a twelve month high of $28.51.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 28th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, February 28th. TriMas’s dividend payout ratio is currently 27.12%.

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.