TriMas (NASDAQ:TRS) Reaches New 1-Year High on Earnings Beat

TriMas Corporation (NASDAQ:TRS) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. 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. The firm had revenue of $274.76 million during the quarter, compared to analysts’ expectations of $251.18 million. TriMas had a return on equity of 11.65% and a net margin of 3.83%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, August 5th. TriMas’s dividend payout ratio is currently 20.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRS. BWS Financial upped their price objective on shares of TriMas from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen raised shares of TriMas from a “hold” rating to a “buy” rating in a research note on Sunday, June 1st.

Insider Buying and Selling

In other TriMas news, Director Adrianne Shapira bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $25.82 per share, with a total value of $103,280.00. Following the transaction, the director owned 8,476 shares in the company, valued at $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Shawn Sedaghat bought 72,937 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $26.16 per share, with a total value of $1,908,031.92. Following the transaction, the director owned 1,883,758 shares in the company, valued at approximately $49,279,109.28. This represents a 4.03% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 848,261 shares of company stock valued at $21,645,007. Corporate insiders own 14.20% of the company’s stock.

Institutional Trading of TriMas

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in TriMas by 11.2% in the 4th quarter. American Century Companies Inc. now owns 78,876 shares of the industrial products company’s stock worth $1,940,000 after acquiring an additional 7,938 shares during the period. KLP Kapitalforvaltning AS purchased a new position in TriMas in the 4th quarter worth approximately $202,000. Vanguard Group Inc. boosted its holdings in TriMas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,895,946 shares of the industrial products company’s stock worth $95,801,000 after acquiring an additional 82,068 shares during the period. Norges Bank purchased a new position in TriMas in the 4th quarter worth approximately $3,602,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in TriMas by 38.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 255,560 shares of the industrial products company’s stock worth $6,284,000 after acquiring an additional 71,088 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.

TriMas Stock Performance

The stock has a market cap of $1.45 billion, a PE ratio of 39.23 and a beta of 0.63. The stock has a fifty day simple moving average of $28.55 and a two-hundred day simple moving average of $25.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.82.

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.