TriMas (NASDAQ:TRS) Rating Increased to Buy at Wall Street Zen

TriMas (NASDAQ:TRS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Separately, BWS Financial reissued a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday, April 30th.

TriMas Price Performance

Shares of TriMas stock opened at $25.90 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60. TriMas has a 52 week low of $19.33 and a 52 week high of $28.51. The company has a market cap of $1.05 billion, a PE ratio of 40.47 and a beta of 0.58. The business has a 50 day moving average of $23.24 and a 200 day moving average of $24.00.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The business had revenue of $241.67 million during the quarter, compared to analyst estimates of $235.41 million. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that TriMas will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Shawn Sedaghat acquired 249,597 shares of TriMas stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $23.83 per share, with a total value of $5,947,896.51. Following the transaction, the director now directly owns 346,825 shares in the company, valued at approximately $8,264,839.75. This represents a 256.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Mell sold 2,218 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.54, for a total value of $49,993.72. Following the transaction, the chief financial officer now directly owns 26,288 shares of the company’s stock, valued at approximately $592,531.52. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,770,195 shares of company stock worth $43,736,754. 14.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriMas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC increased its stake in TriMas by 815.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,158 shares in the last quarter. State of Wyoming bought a new stake in shares of TriMas during the fourth quarter valued at approximately $50,000. KLP Kapitalforvaltning AS purchased a new position in TriMas in the 4th quarter worth approximately $202,000. Comerica Bank raised its holdings in TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company’s stock worth $261,000 after acquiring an additional 7,584 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in TriMas in the 4th quarter worth approximately $281,000. 99.42% of the stock is currently owned by institutional investors.

TriMas Company Profile

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.