Swiss National Bank Reduces Position in TriMas Co. (NASDAQ:TRS)

Swiss National Bank lowered its position in TriMas Co. (NASDAQ:TRS) by 10.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,900 shares of the industrial products company’s stock after selling 7,800 shares during the period. Swiss National Bank’s holdings in TriMas were worth $1,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of TriMas in the 4th quarter valued at $6,698,000. Charles Schwab Investment Management Inc. raised its stake in TriMas by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,502 shares of the industrial products company’s stock valued at $14,889,000 after acquiring an additional 22,656 shares during the last quarter. Bellecapital International Ltd. acquired a new stake in TriMas during the 4th quarter worth approximately $29,160,000. Bank of New York Mellon Corp grew its stake in shares of TriMas by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 246,097 shares of the industrial products company’s stock valued at $6,052,000 after purchasing an additional 11,125 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of TriMas by 3.3% in 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 during the period. 99.42% of the stock is owned by institutional investors and hedge funds.

TriMas Stock Up 0.5 %

Shares of NASDAQ:TRS opened at $23.33 on Friday. The company has a market cap of $946.80 million, a price-to-earnings ratio of 36.45 and a beta of 0.65. TriMas Co. has a fifty-two week low of $19.33 and a fifty-two week high of $28.51. The firm’s 50-day simple moving average is $23.76 and its 200-day simple moving average is $25.00. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60.

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 issued a $0.04 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. TriMas’s dividend payout ratio is currently 27.12%.

Insider Buying and Selling at TriMas

In other TriMas news, CFO Scott A. Mell sold 2,218 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total value 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. This represents a 7.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shawn Sedaghat purchased 554,149 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $24.07 per share, with a total value of $13,338,366.43. Following the transaction, the director now owns 900,974 shares of the company’s stock, valued at approximately $21,686,444.18. This represents a 159.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 806,246 shares of company stock valued at $19,338,213. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and set a $40.00 price target on shares of TriMas in a report on Friday, February 28th.

TriMas Profile

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.