Barington Capital Group Believes TriMas' Shares Have Underperformed Its Peers And The Market Over A Long-Term Period, Multi-Segment Structure has Done Little To Benefit Stockholders; Recommends TriMas Sell its Aerospace Segment Or The Entire Company
Benzinga Newsdesk 2 years ago
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TriMas' Shares have Underperformed its Peers and the Market Over a Long-Term PeriodBelieves TriMas' Multi-Segment Structure has Done Little to Benefit StockholdersRecommends TriMas Sell its Aerospace Segment or the
TriMas' Shares have Underperformed its Peers and the Market Over a Long-Term Period
Believes TriMas' Multi-Segment Structure has Done Little to Benefit Stockholders
Recommends TriMas Sell its Aerospace Segment or the Entire Company
NEW YORK, July 29, 2024 /PRNewswire/ -- Barington Capital Group, L.P. and its affiliates, including The Eastern Company (NASDAQGM:EML) ("Barington" or "we"), which collectively own approximately 1.5% of TriMas Corporation (NASDAQ:TRS) ("TriMas" or the "Company"), announced today that it has sent a letter to the Chairman of the Board of TriMas, Herbert K. Parker, recommending the Company consider a range of alternatives to improve shareholder value.
Since the release of Barington's prior letter on December 12, 2023, TriMas has delivered a total shareholder return of +4.6% versus the Company's Proxy Statement peers1 and the Russell 2000, which have delivered total shareholder returns of +26.8% and +19.1%, respectively.2