Shawn Sedaghat Purchases 554,149 Shares of TriMas Co. (NASDAQ:TRS) Stock

TriMas Co. (NASDAQ:TRS) Director Shawn Sedaghat acquired 554,149 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $24.07 per share, with a total value of $13,338,366.43. Following the completion of the transaction, the director now directly owns 900,974 shares in the company, valued at approximately $21,686,444.18. This trade represents a 159.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, March 7th, Shawn Sedaghat bought 249,597 shares of TriMas stock. The stock was purchased at an average price of $23.83 per share, for a total transaction of $5,947,896.51.

TriMas Stock Performance

Shares of TriMas stock traded down $0.17 during trading on Tuesday, reaching $23.98. The company’s stock had a trading volume of 359,588 shares, compared to its average volume of 276,079. TriMas Co. has a 52 week low of $19.33 and a 52 week high of $28.51. The firm has a market cap of $973.18 million, a PE ratio of 37.47 and a beta of 0.65. The business’s 50-day moving average price is $23.58 and its 200-day moving average price is $25.07. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 28th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, February 28th. TriMas’s dividend payout ratio (DPR) is 27.12%.

Hedge Funds Weigh In On TriMas

Several large investors have recently modified their holdings of TRS. FMR LLC increased its stake in shares of TriMas by 1.7% in the third quarter. FMR LLC now owns 44,082 shares of the industrial products company’s stock valued at $1,125,000 after buying an additional 729 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TriMas by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company’s stock valued at $568,000 after buying an additional 834 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of TriMas by 815.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,158 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 1,227 shares during the period. Finally, MetLife Investment Management LLC increased its position in TriMas by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company’s stock valued at $610,000 after buying an additional 1,378 shares in the last quarter. Institutional investors own 99.42% of the company’s stock.

Analysts Set New Price Targets

TRS has been the topic of a number of analyst reports. StockNews.com raised TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. BWS Financial reaffirmed a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Friday, February 28th.

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.