Champlain Investment Partners LLC Trims Stake in TriMas Co. (NASDAQ:TRS)

Champlain Investment Partners LLC lessened its stake in TriMas Co. (NASDAQ:TRS) by 40.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,130,329 shares of the industrial products company’s stock after selling 780,483 shares during the quarter. Champlain Investment Partners LLC’s holdings in TriMas were worth $28,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Impax Asset Management Group plc boosted its holdings in TriMas by 216.4% during the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock worth $10,467,000 after buying an additional 280,431 shares in the last quarter. Kennedy Capital Management LLC raised its position in shares of TriMas by 197.8% in the first quarter. Kennedy Capital Management LLC now owns 273,200 shares of the industrial products company’s stock worth $7,303,000 after acquiring an additional 181,447 shares during the period. Vanguard Group Inc. boosted its stake in shares of TriMas by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 4,358,524 shares of the industrial products company’s stock worth $116,503,000 after acquiring an additional 100,068 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of TriMas by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock valued at $80,298,000 after acquiring an additional 51,701 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of TriMas by 26.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 240,006 shares of the industrial products company’s stock valued at $6,135,000 after purchasing an additional 49,800 shares in the last quarter. Institutional investors and hedge funds own 99.42% of the company’s stock.

Analysts Set New Price Targets

TRS has been the topic of a number of recent analyst reports. StockNews.com raised TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. BWS Financial reissued a “buy” rating and issued a $40.00 price target on shares of TriMas in a report on Tuesday, November 5th.

TriMas Stock Up 1.4 %

TRS opened at $26.95 on Friday. 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 Co. has a twelve month low of $22.45 and a twelve month high of $28.51. The company has a market cap of $1.09 billion, a PE ratio of 42.11 and a beta of 0.66. The company has a 50-day moving average price of $26.31 and a 200 day moving average price of $25.87.

TriMas (NASDAQ:TRS) last released its earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.14). TriMas had a net margin of 2.93% and a return on equity of 9.21%. The firm had revenue of $229.36 million during the quarter, compared to analysts’ expectations of $239.33 million. During the same quarter last year, the business earned $0.57 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Sell-side analysts expect that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Tuesday, November 5th. TriMas’s dividend payout ratio (DPR) is 25.00%.

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.