Redmond Asset Management LLC Decreases Position in TriMas Co. (NASDAQ:TRS)

Redmond Asset Management LLC trimmed its position in shares of TriMas Co. (NASDAQ:TRS) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,703 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Redmond Asset Management LLC owned approximately 0.14% of TriMas worth $1,444,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc lifted 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 acquiring an additional 280,431 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of TriMas by 8.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 79,822 shares of the industrial products company’s stock valued at $2,038,000 after acquiring an additional 6,344 shares in the last quarter. Sasco Capital Inc. CT lifted its position in shares of TriMas by 26.6% in the third quarter. Sasco Capital Inc. CT now owns 44,980 shares of the industrial products company’s stock valued at $1,148,000 after acquiring an additional 9,460 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of TriMas in the third quarter valued at $269,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of TriMas by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 582,846 shares of the industrial products company’s stock valued at $14,880,000 after acquiring an additional 4,977 shares in the last quarter. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TRS. BWS Financial restated a “buy” rating and issued a $40.00 price objective on shares of TriMas in a research report on Thursday, January 23rd. StockNews.com upgraded TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

TriMas Stock Performance

NASDAQ TRS opened at $22.59 on Friday. The business’s 50-day moving average price is $24.21 and its 200 day moving average price is $25.18. TriMas Co. has a twelve month low of $22.24 and a twelve month high of $28.51. The company has a market capitalization of $916.48 million, a PE ratio of 35.30 and a beta of 0.66. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 28th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, February 28th. This represents a $0.16 annualized dividend and a yield of 0.71%. TriMas’s dividend payout ratio (DPR) is presently 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.