TriMas (NASDAQ:TRS) Receives “Buy” Rating from BWS Financial

BWS Financial reissued their buy rating on shares of TriMas (NASDAQ:TRS) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $40.00 price objective on the industrial products company’s stock.

TriMas Stock Performance

Shares of TRS opened at $25.79 on Wednesday. The company’s 50 day simple moving average is $25.57 and its 200-day simple moving average is $25.09. TriMas has a 12-month low of $22.59 and a 12-month high of $29.07. The firm has a market cap of $1.05 billion, a PE ratio of 26.59 and a beta of 0.71. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58.

TriMas (NASDAQ:TRS) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The business had revenue of $227.10 million for the quarter, compared to the consensus estimate of $220.60 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that TriMas will post 1.91 EPS for the current year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. TriMas’s payout ratio is currently 16.49%.

Insider Activity at TriMas

In other news, CEO Thomas A. Amato bought 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the transaction, the chief executive officer now owns 286,168 shares in the company, valued at $6,759,288.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TriMas

Large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its stake in TriMas by 30.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 10,098 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in TriMas by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock valued at $12,802,000 after purchasing an additional 21,767 shares during the last quarter. Vanguard Group Inc. lifted its position in TriMas by 0.8% during the third quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after buying an additional 34,517 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of TriMas by 16.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock valued at $77,757,000 after acquiring an additional 422,717 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in TriMas by 8.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 102,562 shares of the industrial products company’s stock worth $2,598,000 after purchasing an additional 7,903 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.

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.