TriMas’ (TRS) “Buy” Rating Reiterated at BWS Financial

BWS Financial restated their buy rating on shares of TriMas (NASDAQ:TRS) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $40.00 target price on the industrial products company’s stock. BWS Financial also issued estimates for TriMas’ Q3 2024 earnings at $0.63 EPS.

TriMas Stock Performance

Shares of TRS stock opened at $26.21 on Wednesday. TriMas has a 12 month low of $22.59 and a 12 month high of $29.07. The company’s fifty day simple moving average is $25.59 and its 200-day simple moving average is $25.11. The firm has a market cap of $1.07 billion, a PE ratio of 27.02 and a beta of 0.71. The company has a quick ratio of 1.29, a current ratio of 2.73 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The firm had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. During the same period in the previous year, the business earned $0.30 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. TriMas’s dividend payout ratio is 16.49%.

Insiders Place Their Bets

In related news, Director Herbert K. Parker acquired 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $26.34 per share, with a total value of $39,510.00. Following the acquisition, the director now owns 33,057 shares in the company, valued at approximately $870,721.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Herbert K. Parker bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $25.98 per share, for a total transaction of $25,980.00. Following the purchase, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert K. Parker purchased 1,500 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $26.34 per share, for a total transaction of $39,510.00. Following the transaction, the director now owns 33,057 shares of the company’s stock, valued at $870,721.38. The disclosure for this purchase can be found here. Insiders have purchased 13,500 shares of company stock valued at $325,550 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TRS. Redmond Asset Management LLC lifted its stake in shares of TriMas by 157.8% during the 3rd quarter. Redmond Asset Management LLC now owns 67,042 shares of the industrial products company’s stock worth $1,660,000 after buying an additional 41,036 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TriMas by 31.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,089 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 2,173 shares during the period. Inspire Investing LLC acquired a new position in shares of TriMas in the third quarter valued at approximately $308,000. Versor Investments LP acquired a new position in shares of TriMas in the third quarter valued at approximately $414,000. Finally, Merit Financial Group LLC bought a new position in shares of TriMas during the third quarter worth approximately $909,000. 99.42% of the stock is currently owned by institutional investors.

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.