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

TriMas Co. (NASDAQ:TRS)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $20.99, but opened at $24.45. TriMas shares last traded at $23.26, with a volume of 53,027 shares traded.

The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. TriMas had a return on equity of 9.21% and a net margin of 2.93%. During the same period in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 6th. TriMas’s dividend payout ratio is currently 27.12%.

Analyst Ratings Changes

Separately, BWS Financial reissued a “buy” rating and set a $40.00 target price on shares of TriMas in a research note on Friday, February 28th.

Insider Buying and Selling at TriMas

In other TriMas news, CFO Scott A. Mell sold 2,218 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $22.54, for a total transaction of $49,993.72. Following the sale, the chief financial officer now directly owns 26,288 shares of the company’s stock, valued at $592,531.52. The trade was a 7.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey A. Fielkow bought 2,500 shares of TriMas stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $20.78 per share, for a total transaction of $51,950.00. Following the purchase, the director now owns 11,013 shares of the company’s stock, valued at approximately $228,850.14. This trade represents a 29.37 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 806,246 shares of company stock worth $19,338,213 over the last ninety days. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TriMas

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TriMas by 3.7% in the fourth 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 in the last quarter. Sterling Capital Management LLC raised its position in shares of TriMas by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,158 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in TriMas by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock worth $982,000 after purchasing an additional 1,227 shares in the last quarter. MetLife Investment Management LLC grew its position in TriMas by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 1,378 shares during the last quarter. Finally, State of Wyoming purchased a new stake in TriMas during the 4th quarter worth approximately $50,000. 99.42% of the stock is owned by institutional investors.

TriMas Price Performance

The stock’s 50 day simple moving average is $22.34 and its 200-day simple moving average is $24.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. The firm has a market cap of $942.21 million, a price-to-earnings ratio of 36.41 and a beta of 0.55.

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.