TriMas (NASDAQ:TRS) Reaches New 1-Year Low – Here’s Why

TriMas Co. (NASDAQ:TRS)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $22.24 and last traded at $22.21, with a volume of 133454 shares traded. The stock had previously closed at $22.59.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TRS shares. StockNews.com raised shares of TriMas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. BWS Financial restated a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Thursday, January 23rd.

TriMas Stock Down 2.6 %

The firm has a fifty day moving average of $24.14 and a 200-day moving average of $25.20. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. The firm has a market cap of $892.58 million, a P/E ratio of 34.38 and a beta of 0.66.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 28th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, February 28th. TriMas’s payout ratio is presently 25.00%.

Hedge Funds Weigh In On TriMas

A number of institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake 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 purchasing an additional 1,158 shares during the last quarter. State of Wyoming acquired a new position in TriMas during the fourth quarter worth approximately $50,000. KLP Kapitalforvaltning AS bought a new stake in TriMas in the fourth quarter valued at approximately $202,000. Intech Investment Management LLC acquired a new stake in shares of TriMas in the third quarter valued at approximately $269,000. Finally, ProShare Advisors LLC bought a new position in shares of TriMas during the 4th quarter worth approximately $281,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.

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.