Invenomic Capital Management LP Takes $3.66 Million Position in TriMas Co. (NASDAQ:TRS)

Invenomic Capital Management LP acquired a new position in TriMas Co. (NASDAQ:TRS) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 143,152 shares of the industrial products company’s stock, valued at approximately $3,655,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of TriMas during the 2nd quarter valued at $26,000. Aristides Capital LLC bought a new stake in TriMas in the second quarter valued at about $245,000. Intech Investment Management LLC acquired a new position in TriMas in the third quarter valued at about $269,000. Paloma Partners Management Co bought a new position in TriMas during the third quarter worth about $293,000. Finally, Algert Global LLC grew its position in shares of TriMas by 4.2% during the 2nd quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock worth $403,000 after buying an additional 639 shares during the period. 99.42% of the stock is owned by institutional investors.

TriMas Stock Down 0.1 %

Shares of TriMas stock opened at $26.57 on Wednesday. The company has a market capitalization of $1.08 billion, a P/E ratio of 41.52 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The business has a 50-day moving average of $26.48 and a two-hundred day moving average of $25.82. TriMas Co. has a 1 year low of $22.45 and a 1 year high of $28.51.

TriMas (NASDAQ:TRS) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business had revenue of $229.36 million for the quarter, compared to the consensus estimate of $239.33 million. During the same period in the previous year, the company posted $0.57 earnings per share. TriMas’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts predict that TriMas Co. will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 5th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, November 5th. TriMas’s payout ratio is presently 25.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research report on Tuesday, November 5th. StockNews.com raised shares of TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

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.