Pzena Investment Management Discloses 5.0% Stake in TriMas Corp

TL;DR

**Pzena Investment Management just revealed a 5.0% stake in TriMas (TRIM).**

AI Summary

Pzena Investment Management LLC, a Delaware-based investment firm, reported owning 2,077,440 shares of TriMas Corp (TRIM) common stock as of December 31, 2023. This represents a 5.0% ownership stake in the metal forging and stampings company. This filing indicates Pzena's significant, but passive, investment in TriMas, suggesting they see value in the company without seeking to influence its management directly. For investors, this signals that a professional money manager has confidence in TriMas's future prospects.

Why It Matters

This filing shows a major institutional investor, Pzena Investment Management, has taken a significant position in TriMas, which can be seen as a vote of confidence in the company's value.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by an institutional investor, which generally carries low risk for existing shareholders.

Analyst Insight

Investors should note this institutional vote of confidence and consider researching TriMas Corp's fundamentals to understand why Pzena Investment Management took a significant stake.

Key Numbers

• 2,077,440 — shares beneficially owned (the number of TriMas Corp shares Pzena Investment Management LLC holds)
• 5.0% — percentage of class outstanding (the ownership stake Pzena Investment Management LLC has in TriMas Corp)
• December 31, 2023 — date of event (the date that triggered the filing requirement)

Key Players & Entities

• Pzena Investment Management LLC (company) — the reporting person and institutional investor
• TriMas Corp (company) — the subject company whose stock was acquired
• Delaware (company) — place of organization for Pzena Investment Management LLC

Forward-Looking Statements

• Pzena Investment Management will maintain its passive stake in TriMas Corp. (Pzena Investment Management LLC) — high confidence, target: next 6-12 months

FAQ

Filing Documents

• trimas_corp_-_13g_dec_20.htm (SC 13G) — 95KB
• 0000950170-24-013142.txt ( ) — 97KB

IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK WHETHER THE PERSON FILING IS A

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or Dealer registered under Section 15 of the Act (b) [ ] Bank as defined in section 3(a)(6) of the Act (c) [ ] Insurance Company as defined in section 3(a)(19) of the Act (d) [ ] Investment Company registered under section 8 of the Investment Company Act of 1940 (e) [ x ] Investment Adviser registered under section 203 of the Investment Advisers Act or under the laws of any State (f) [ ] Employee Benefit Plan, Pension fund which is subject to the Endowment Fund; see ss.240.13d-1(b)(1)(ii)(F) (g) [ ] Parent Holding Company or Control Person, in accordance with ss.240.13d-1(b)(ii)(G) (Note: See Item 7) (h) [ ] A Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act (i) [ ] A Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J) If this statement is filed pursuant to ss.240.13d-1(c), check this box [ ]. SCHEDULE 13G CUSIP NO.896215209 PAGE 4 OF 6 PAGES

OWNERSHIP

ITEM 4. OWNERSHIP If the percent of the class owned, as of December 31 of the year covered by this statement, or as of the last day of any month described in Rule 13d-1(b)(2) if applicable exceeds five percent, provide the following information as of that date and identify those shares which there is a right to acquire. (a) Amount Beneficially Owned: 2,552,767 (b) Percent of Class: 6.2% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 2,077,440 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 2,552,767 (iv) shared power to dispose or to direct the disposition of: 0

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employees benefit plan, pension fund or endowment fund is not required. CLIENTS OF THE FILING INVESTMENT MANAGER HAVE THE RIGHT TO RECEIVE AND THE ULTIMATE POWER TO DIRECT THE RECEIPT OF DIVIDENDS FROM, OR THE PROCEEDS OF SALE OF THE SECURITIES REPORTED ON HEREINABOVE. NO INTEREST OF ANY ONE OF SUCH CLIENTS RELATES TO MORE THAN FIVE PERCENT OF THE CLASS. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c), attach an exhibit stating the identification of the relevant subsidiary. NOT APPLICABLE.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP If a group has filed this schedule pursuant to Rule 13d-1(b)(ii)(J), so indicate under Item 3(h) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(d), attach an exhibit stating the identity of each member of the group. NOT APPLICABLE.

NOTICE OF DISSOLUTION OF GROUP

ITEM 9. NOTICE OF DISSOLUTION OF GROUP Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security report on will be filed, if required, by members of the group, in their individual capacity. NOT APPLICABLE. SCHEDULE 13G CUSIP NO. 896215209 PAGE 5 OF 6 PAGES

CERTIFICATION

ITEM 10. CERTIFICATION By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SCHEDULE 13G CUSIP NO. 896215209 PAGE 6 OF 6 PAGES After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct. February 9, 2024 /s/ Steven Coffey, Chief Legal Risk Officer & Chief Compliance Officer NAME/TITLE

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