TriMas (NASDAQ:TRS) Now Covered by BWS Financial

BWS Financial began coverage on shares of TriMas (NASDAQ:TRS – Get Rating) in a research report report published on Monday, The Fly reports. The firm issued a buy rating and a $40.00 price target on the industrial products company’s stock. BWS Financial also issued estimates for TriMas’ Q2 2023 earnings at $0.49 EPS, Q3 2023 earnings at $0.69 EPS, Q4 2023 earnings at $0.35 EPS, Q1 2024 earnings at $0.38 EPS, Q2 2024 earnings at $0.60 EPS, Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $0.44 EPS and FY2024 earnings at $2.20 EPS.

Several other brokerages also recently weighed in on TRS. TheStreet downgraded TriMas from a b rating to a c rating in a research report on Monday, May 1st. StockNews.com began coverage on TriMas in a research note on Thursday, May 18th. They set a hold rating on the stock.

TriMas Stock Performance

Shares of TRS stock opened at $25.49 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.48 and a current ratio of 2.63. TriMas has a fifty-two week low of $21.41 and a fifty-two week high of $31.89. The stock has a 50 day moving average price of $26.42 and a two-hundred day moving average price of $27.87. The company has a market capitalization of $1.06 billion, a P/E ratio of 18.74 and a beta of 0.71.

TriMas (NASDAQ:TRS – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. TriMas had a return on equity of 10.49% and a net margin of 6.50%. The firm had revenue of $215.50 million during the quarter, compared to the consensus estimate of $208.00 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. Analysts expect that TriMas will post 2.06 earnings per share for the current year.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Thursday, May 4th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. TriMas’s dividend payout ratio (DPR) is presently 11.76%.

Insider Buying and Selling

In other news, Director Jeffrey A. Fielkow purchased 1,000 shares of TriMas stock in a transaction that occurred on Thursday, May 4th. The shares were bought at an average cost of $25.26 per share, with a total value of $25,260.00. Following the completion of the purchase, the director now directly owns 4,445 shares in the company, valued at $112,280.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TriMas news, CFO Scott A. Mell sold 1,150 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $25.41, for a total value of $29,221.50. Following the sale, the chief financial officer now directly owns 28,518 shares of the company’s stock, valued at $724,642.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Fielkow bought 1,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was bought at an average cost of $25.26 per share, for a total transaction of $25,260.00. Following the completion of the acquisition, the director now directly owns 4,445 shares of the company’s stock, valued at approximately $112,280.70. The disclosure for this purchase can be found here. Insiders have bought a total of 1,027 shares of company stock valued at $26,008 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TriMas

Several hedge funds have recently added to or reduced their stakes in TRS. Pzena Investment Management LLC boosted its holdings in TriMas by 28.6% in the first quarter. Pzena Investment Management LLC now owns 2,488,324 shares of the industrial products company’s stock worth $69,325,000 after acquiring an additional 553,910 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of TriMas by 14.5% during the first quarter. Wasatch Advisors LP now owns 3,058,888 shares of the industrial products company’s stock valued at $85,221,000 after purchasing an additional 388,267 shares in the last quarter. Norges Bank bought a new position in shares of TriMas during the fourth quarter valued at $6,443,000. Renaissance Technologies LLC lifted its holdings in shares of TriMas by 140.5% during the second quarter. Renaissance Technologies LLC now owns 235,370 shares of the industrial products company’s stock valued at $6,517,000 after purchasing an additional 137,500 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of TriMas by 16.3% during the first quarter. Royce & Associates LP now owns 772,801 shares of the industrial products company’s stock valued at $21,530,000 after purchasing an additional 108,134 shares in the last quarter. 99.94% of the stock is owned by institutional investors.

About TriMas

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TriMas Corp. engages in the manufacture of industrial products for customers in the consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets. It operates through the following segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs and manufactures dispensing products, including foaming pumps, lotion and hand soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers, polymeric and steel caps and closures, including food lids, flip-top closures, child resistant caps, drum and pail closures, and flexible spouts, polymeric jar products, and fully integrated dispensers for fill-ready bag-in-box applications, all for a variety of consumer product markets including, but not limited to, beauty and personal care, home care, food and beverage, and pharmaceutical and nutraceutical, as well as the industrial market.