TriMas (NASDAQ:TRS) Sets New 52-Week High After Earnings Beat

TriMas Corporation (NASDAQ:TRS) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $36.77 and last traded at $34.87, with a volume of 1403175 shares. The stock had previously closed at $31.48.

The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. TriMas had a return on equity of 11.49% and a net margin of 3.83%. The company had revenue of $274.76 million for the quarter, compared to analyst estimates of $251.18 million. During the same period in the previous year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year.

TriMas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, August 5th. TriMas’s dividend payout ratio is presently 17.58%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BWS Financial reiterated a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of TriMas in a report on Wednesday. Wall Street Zen upgraded TriMas from a “hold” rating to a “buy” rating in a report on Sunday, June 1st.

Insider Buying and Selling

In other news, Director Shawn Sedaghat bought 410,172 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $46,049,178.03. The trade was a 29.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adrianne Shapira acquired 4,000 shares of TriMas stock in a transaction that occurred on Thursday, June 5th. The shares were bought at an average cost 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 represents a 89.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 848,261 shares of company stock valued at $21,645,007 in the last ninety days. 14.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in TriMas by 815.5% during 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. State of Wyoming purchased a new position in shares of TriMas in the 4th quarter worth $50,000. KLP Kapitalforvaltning AS purchased a new position in shares of TriMas in the 4th quarter worth $202,000. Apexium Financial LP purchased a new position in shares of TriMas in the 2nd quarter worth $243,000. Finally, Comerica Bank boosted its stake in shares of TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company’s stock worth $261,000 after buying an additional 7,584 shares during the last quarter. Institutional investors own 99.42% of the company’s stock.

TriMas Trading Up 0.1%

The stock has a market capitalization of $1.45 billion, a PE ratio of 39.26 and a beta of 0.63. The company has a current ratio of 2.59, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $28.75 and a 200-day moving average price of $25.19.

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.