TriMas (NASDAQ:TRS) Reaches New 1-Year High – Here’s Why

TriMas Co. (NASDAQ:TRS) hit a new 52-week high on Monday . The stock traded as high as $28.50 and last traded at $28.38, with a volume of 6754 shares changing hands. The stock had previously closed at $28.32.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and issued a $40.00 price objective on shares of TriMas in a report on Wednesday, October 9th.

TriMas Stock Performance

The company has a market capitalization of $1.14 billion, a P/E ratio of 28.90 and a beta of 0.67. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $25.17 and its 200 day moving average is $25.71.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). The company had revenue of $240.50 million during the quarter, compared to the consensus estimate of $238.63 million. TriMas had a return on equity of 9.61% and a net margin of 4.44%. TriMas’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts anticipate that TriMas Co. will post 1.75 earnings per share for the current year.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, August 6th. TriMas’s payout ratio is 16.33%.

Institutional Trading of TriMas

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of TriMas by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,258,456 shares of the industrial products company’s stock worth $107,867,000 after purchasing an additional 43,423 shares during the period. Quest Partners LLC boosted its position in shares of TriMas by 275.2% during the 2nd quarter. Quest Partners LLC now owns 33,267 shares of the industrial products company’s stock valued at $850,000 after acquiring an additional 24,400 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of TriMas by 109.2% during the first quarter. First Eagle Investment Management LLC now owns 190,206 shares of the industrial products company’s stock worth $5,084,000 after purchasing an additional 99,300 shares in the last quarter. American Century Companies Inc. increased its position in shares of TriMas by 12.5% in the second quarter. American Century Companies Inc. now owns 65,505 shares of the industrial products company’s stock worth $1,674,000 after purchasing an additional 7,304 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in TriMas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock valued at $80,298,000 after purchasing an additional 51,701 shares in the last quarter. 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.