TriMas (NASDAQ:TRS) Shares Gap Up – Here’s Why

TriMas Co. (NASDAQ:TRS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $25.61, but opened at $26.29. TriMas shares last traded at $25.93, with a volume of 24,888 shares traded.

Analyst Upgrades and Downgrades

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

TriMas Stock Performance

The stock has a market cap of $1.05 billion, a PE ratio of 40.64 and a beta of 0.66. The business’s fifty day moving average price is $26.17 and its 200-day moving average price is $25.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83.

TriMas (NASDAQ:TRS) last released its quarterly 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 for the quarter, compared to the consensus estimate of $239.33 million. During the same period in the previous year, the company earned $0.57 earnings per share. TriMas’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that TriMas Co. will post 1.74 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. TriMas’s dividend payout ratio is currently 25.00%.

Institutional Trading of TriMas

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of TriMas by 79.8% during the 1st quarter. BNP Paribas Financial Markets now owns 20,225 shares of the industrial products company’s stock valued at $541,000 after acquiring an additional 8,978 shares during the period. Vanguard Group Inc. lifted 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 valued at $116,503,000 after buying an additional 100,068 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in TriMas by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,870 shares of the industrial products company’s stock worth $639,000 after buying an additional 1,478 shares during the period. Kennedy Capital Management LLC increased its stake in TriMas by 197.8% in the 1st quarter. Kennedy Capital Management LLC now owns 273,200 shares of the industrial products company’s stock worth $7,303,000 after buying an additional 181,447 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of TriMas by 5.0% in the second quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock worth $581,000 after acquiring an additional 1,072 shares during the period. Institutional investors 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.