Orchard Capital Management LLC Trims Stake in TriMas Co. (NASDAQ:TRS)

Orchard Capital Management LLC lowered its position in TriMas Co. (NASDAQ:TRS) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 413,128 shares of the industrial products company’s stock after selling 5,700 shares during the period. TriMas comprises about 3.2% of Orchard Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Orchard Capital Management LLC’s holdings in TriMas were worth $10,560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TRS. Trexquant Investment LP grew its holdings in shares of TriMas by 205.6% in the fourth quarter. Trexquant Investment LP now owns 79,610 shares of the industrial products company’s stock worth $2,017,000 after purchasing an additional 53,556 shares during the last quarter. Norges Bank bought a new position in shares of TriMas in the fourth quarter worth about $6,767,000. Quadrature Capital Ltd bought a new position in shares of TriMas in the fourth quarter worth about $1,102,000. Evoke Wealth LLC bought a new position in shares of TriMas in the fourth quarter worth about $1,471,000. Finally, Vanguard Group Inc. grew its holdings in shares of TriMas by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,258,456 shares of the industrial products company’s stock worth $107,867,000 after purchasing an additional 43,423 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

TriMas Stock Up 1.9 %

Shares of TriMas stock opened at $25.71 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.48. TriMas Co. has a 1 year low of $22.45 and a 1 year high of $27.89. The firm’s 50-day moving average is $25.07 and its two-hundred day moving average is $25.65. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 26.51 and a beta of 0.68.

TriMas (NASDAQ:TRS) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10). TriMas had a return on equity of 9.61% and a net margin of 4.44%. The business had revenue of $240.50 million for the quarter, compared to the consensus estimate of $238.63 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts expect that TriMas Co. will post 1.76 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.62%. The ex-dividend date was Tuesday, August 6th. TriMas’s payout ratio is 16.49%.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and issued a $40.00 price target on shares of TriMas in a report on Wednesday, July 31st.

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.