Insider Buying: TriMas Co. (NASDAQ:TRS) Director Acquires 249,597 Shares of Stock

TriMas Co. (NASDAQ:TRS) Director Shawn Sedaghat acquired 249,597 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $23.83 per share, with a total value of $5,947,896.51. Following the transaction, the director now directly owns 346,825 shares of the company’s stock, valued at approximately $8,264,839.75. This trade represents a 256.71 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shawn Sedaghat also recently made the following trade(s):

• On Monday, March 10th, Shawn Sedaghat acquired 554,149 shares of TriMas stock. The shares were purchased at an average cost of $24.07 per share, with a total value of $13,338,366.43.

TriMas Price Performance

TRS opened at $24.46 on Thursday. The stock has a 50-day moving average price of $23.56 and a 200-day moving average price of $25.06. 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 firm has a market cap of $992.66 million, a PE ratio of 38.22 and a beta of 0.65. TriMas Co. has a 1 year low of $19.33 and a 1 year high of $28.51.

TriMas Dividend Announcement

The business also recently announced 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 0.65%. The ex-dividend date was Friday, February 28th. TriMas’s dividend payout ratio is currently 27.12%.

Hedge Funds Weigh In On TriMas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its stake in TriMas by 815.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,158 shares during the period. State of Wyoming bought a new position in TriMas during the 4th quarter valued at about $50,000. KLP Kapitalforvaltning AS bought a new position in TriMas during the 4th quarter valued at about $202,000. Intech Investment Management LLC bought a new position in shares of TriMas in the 3rd quarter worth approximately $269,000. Finally, ProShare Advisors LLC bought a new position in shares of TriMas in the 4th quarter worth approximately $281,000. Institutional investors own 99.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TRS shares. BWS Financial reissued a “buy” rating and set a $40.00 price objective on shares of TriMas in a research report on Friday, February 28th. StockNews.com raised 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.