TriMas (NASDAQ:TRS) Shares Gap Up After Earnings Beat

TriMas Corporation (NASDAQ:TRS)’s share price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $31.48, but opened at $36.47. TriMas shares last traded at $35.05, with a volume of 125,737 shares changing hands.

The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. TriMas had a net margin of 3.83% and a return on equity of 11.65%. The business had revenue of $274.76 million during the quarter, compared to the consensus estimate of $251.18 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year.

TriMas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be given 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 is Tuesday, August 5th. TriMas’s dividend payout ratio is presently 20.78%.

Wall Street Analyst Weigh In

TRS has been the subject of a number of recent research reports. BWS Financial boosted their price objective on shares of TriMas from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded shares of TriMas from a “hold” rating to a “buy” rating in a research report on Sunday, June 1st.

Insider Activity

In other news, Director Adrianne Shapira bought 4,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $25.82 per share, for a total transaction of $103,280.00. Following the transaction, the director owned 8,476 shares in the company, valued at approximately $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shawn Sedaghat bought 410,172 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of $25.43 per share, with a total value of $10,430,673.96. Following the transaction, the director owned 1,810,821 shares in the company, valued at $46,049,178.03. The trade was a 29.28% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 848,261 shares of company stock valued at $21,645,007. 14.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG grew its position in TriMas by 45.6% in the 4th quarter. Deutsche Bank AG now owns 36,305 shares of the industrial products company’s stock worth $893,000 after purchasing an additional 11,363 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of TriMas by 3,802.9% in the 1st quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company’s stock worth $350,000 after acquiring an additional 14,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of TriMas by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company’s stock worth $568,000 after acquiring an additional 834 shares during the period. Wells Fargo & Company MN lifted its stake in shares of TriMas by 21.1% in the 4th quarter. Wells Fargo & Company MN now owns 37,729 shares of the industrial products company’s stock worth $928,000 after acquiring an additional 6,573 shares during the period. Finally, Barclays PLC lifted its stake in shares of TriMas by 51.4% in the 4th quarter. Barclays PLC now owns 104,163 shares of the industrial products company’s stock worth $2,560,000 after acquiring an additional 35,371 shares during the period. Institutional investors own 99.42% of the company’s stock.

TriMas Trading Up 2.4%

The business’s 50 day moving average price is $28.55 and its two-hundred day moving average price is $25.11. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 39.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.82.

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.