Bank of New York Mellon Corp Acquires 11,125 Shares of TriMas Co. (NASDAQ:TRS)

Bank of New York Mellon Corp increased its position in shares of TriMas Co. (NASDAQ:TRS) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 246,097 shares of the industrial products company’s stock after buying an additional 11,125 shares during the quarter. Bank of New York Mellon Corp’s holdings in TriMas were worth $6,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in TriMas by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock worth $982,000 after buying an additional 1,227 shares during the last quarter. Barclays PLC increased its position in TriMas by 341.3% in the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock worth $1,755,000 after buying an additional 53,203 shares during the last quarter. XTX Topco Ltd purchased a new stake in TriMas in the third quarter worth $371,000. Jane Street Group LLC grew its position 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 valued at $2,109,000 after purchasing an additional 35,258 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of TriMas by 10.7% in the third quarter. Wellington Management Group LLP now owns 2,619,359 shares of the industrial products company’s stock valued at $66,872,000 after purchasing an additional 252,537 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Shawn Sedaghat bought 554,149 shares of TriMas stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $24.07 per share, for a total transaction of $13,338,366.43. Following the acquisition, the director now owns 900,974 shares of the company’s stock, valued at approximately $21,686,444.18. The trade was a 159.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Fielkow bought 2,500 shares of TriMas stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the acquisition, the director now directly owns 11,013 shares in the company, valued at approximately $228,850.14. This trade represents a 29.37 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 806,246 shares of company stock valued at $19,338,213. Insiders own 1.10% of the company’s stock.

TriMas Trading Up 0.7 %

Shares of TRS stock opened at $24.15 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $23.57 and a two-hundred day moving average price of $25.05. TriMas Co. has a 12-month low of $19.33 and a 12-month high of $28.51. The firm has a market cap of $980.08 million, a P/E ratio of 37.73 and a beta of 0.65.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 28th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, February 28th. TriMas’s dividend payout ratio (DPR) 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.