TriMas (NASDAQ:TRS) Earns “Buy” Rating from BWS Financial

BWS Financial reaffirmed their buy rating on shares of TriMas (NASDAQ:TRS) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $40.00 price objective on the industrial products company’s stock. BWS Financial also issued estimates for TriMas’ Q3 2024 earnings at $0.63 EPS.

TriMas Stock Down 0.0 %

TriMas stock opened at $26.21 on Wednesday. TriMas has a twelve month low of $22.59 and a twelve month high of $29.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 2.73. The firm has a market cap of $1.07 billion, a PE ratio of 27.02 and a beta of 0.71. The firm’s 50 day moving average price is $25.59 and its two-hundred day moving average price is $25.11.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $227.10 million for the quarter, compared to the consensus estimate of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. TriMas’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. On average, research analysts predict that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. TriMas’s dividend payout ratio is currently 16.49%.

Insider Activity at TriMas

In other TriMas news, CEO Thomas A. Amato bought 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the transaction, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at approximately $6,759,288.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Herbert K. Parker acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $26.34 per share, with a total value of $39,510.00. Following the purchase, the director now owns 33,057 shares of the company’s stock, valued at $870,721.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas A. Amato bought 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $23.62 per share, with a total value of $236,200.00. Following the transaction, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 13,500 shares of company stock valued at $325,550. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TriMas

Institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in TriMas by 30.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock valued at $1,079,000 after buying an additional 10,098 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of TriMas by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock valued at $12,802,000 after purchasing an additional 21,767 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of TriMas by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after purchasing an additional 34,517 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of TriMas by 16.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock worth $77,757,000 after purchasing an additional 422,717 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in TriMas by 8.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 102,562 shares of the industrial products company’s stock valued at $2,598,000 after purchasing an additional 7,903 shares during the period. Institutional investors own 99.42% of the company’s stock.

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.