TriMas (NASDAQ:TRS) Sets New 52-Week High After Earnings Beat

TriMas Corporation (NASDAQ:TRS)’s share price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $36.77 and last traded at $34.87, with a volume of 1403175 shares traded. The stock had previously closed at $31.48.

The industrial products company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.11. TriMas had a return on equity of 11.49% and a net margin of 3.83%. The company had revenue of $274.76 million for the quarter, compared to analysts’ expectations of $251.18 million. During the same period last year, the firm earned $0.43 EPS. TriMas’s revenue for the quarter was up 14.2% compared to the same quarter last year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. TriMas’s dividend payout ratio (DPR) is currently 17.58%.

Analyst Upgrades and Downgrades

TRS has been the topic of several research reports. Wall Street Zen raised TriMas from a “hold” rating to a “buy” rating in a report on Sunday, June 1st. BWS Financial reaffirmed a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of TriMas in a report on Wednesday.

Insider Activity

In other TriMas news, Director Adrianne Shapira bought 4,000 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the completion of the transaction, the director directly owned 8,476 shares of the company’s stock, valued at approximately $218,850.32. This represents a 89.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Sedaghat bought 410,172 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $25.43 per share, with a total value of $10,430,673.96. Following the transaction, the director directly owned 1,810,821 shares of the company’s stock, valued at approximately $46,049,178.03. This trade represents a 29.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 848,261 shares of company stock valued at $21,645,007. 14.20% of the stock is currently owned by company insiders.

Institutional Trading of TriMas

A number of large investors have recently modified their holdings of TRS. AlphaQuest LLC raised its stake in TriMas by 41,400.0% in the second quarter. AlphaQuest LLC now owns 16,185 shares of the industrial products company’s stock worth $463,000 after buying an additional 16,146 shares in the last quarter. Ethic Inc. raised its stake in TriMas by 28.5% in the second quarter. Ethic Inc. now owns 13,598 shares of the industrial products company’s stock worth $386,000 after buying an additional 3,015 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in TriMas in the second quarter worth approximately $1,026,000. Pzena Investment Management LLC raised its stake in TriMas by 2.0% in the second quarter. Pzena Investment Management LLC now owns 2,177,761 shares of the industrial products company’s stock worth $62,306,000 after buying an additional 42,207 shares in the last quarter. Finally, Apexium Financial LP bought a new position in TriMas in the second quarter worth approximately $243,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

TriMas Stock Up 0.1%

The company has a market cap of $1.45 billion, a P/E ratio of 39.26 and a beta of 0.63. The company has a quick ratio of 1.49, a current ratio of 2.59 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $28.75 and its 200 day moving average is $25.19.

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.