TriMas (NASDAQ:TRS) Rating Lowered to Sell at BidaskClub

TriMas (NASDAQ:TRS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, BidAskClub reports.

TRS opened at $23.80 on Tuesday. TriMas has a one year low of $18.05 and a one year high of $33.07. The stock has a market capitalization of $1.08 billion, a P/E ratio of 19.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.07 and a quick ratio of 1.83. The company’s 50 day simple moving average is $24.95 and its 200-day simple moving average is $23.70.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TriMas had a net margin of 6.95% and a return on equity of 10.04%. The firm had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $183.14 million. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, analysts anticipate that TriMas will post 1.47 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in TriMas by 2.6% in the first quarter. Wellington Management Group LLP now owns 3,521,152 shares of the industrial products company’s stock worth $81,339,000 after purchasing an additional 90,780 shares during the period. Fiduciary Management Inc. WI raised its holdings in TriMas by 12.2% in the first quarter. Fiduciary Management Inc. WI now owns 3,507,379 shares of the industrial products company’s stock worth $81,020,000 after purchasing an additional 382,134 shares during the period. Champlain Investment Partners LLC raised its holdings in TriMas by 29.0% in the first quarter. Champlain Investment Partners LLC now owns 2,094,140 shares of the industrial products company’s stock worth $48,375,000 after purchasing an additional 470,215 shares during the period. Victory Capital Management Inc. raised its holdings in TriMas by 0.5% in the second quarter. Victory Capital Management Inc. now owns 2,014,023 shares of the industrial products company’s stock worth $48,236,000 after purchasing an additional 10,786 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in TriMas by 25.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,480,937 shares of the industrial products company’s stock worth $34,210,000 after purchasing an additional 304,735 shares during the period. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

About TriMas

TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets worldwide. It operates in three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs, manufactures, and sells specialty closure products, including steel and plastic drum closures, plastic pail dispensers and plugs, and plastic enclosures; specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, airless dispensers, and other packaging solutions for the cosmetic, personal care, and household product markets; and specialty plastic closures for bottles and jars in the food and beverage markets under the Rieke name.

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