BWS Financial Reiterates “Buy” Rating for TriMas (NASDAQ:TRS)

TriMas (NASDAQ:TRS)‘s stock had its “buy” rating reissued by equities researchers at BWS Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $40.00 target price on the industrial products company’s stock. BWS Financial’s price objective points to a potential upside of 63.33% from the company’s previous close.

Separately, StockNews.com raised TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th.

TriMas Price Performance

TRS traded down $0.11 during trading on Thursday, reaching $24.49. 28,800 shares of the company traded hands, compared to its average volume of 202,748. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. TriMas has a 12-month low of $22.24 and a 12-month high of $28.51. The firm has a fifty day simple moving average of $25.11 and a 200 day simple moving average of $25.44. The company has a market cap of $993.56 million, a P/E ratio of 38.19 and a beta of 0.67.

TriMas (NASDAQ:TRS) last released its earnings results on Monday, November 4th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.14). The business had revenue of $229.36 million for the quarter, compared to the consensus estimate of $239.33 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. On average, equities analysts forecast that TriMas will post 1.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Western Standard LLC increased its position in TriMas by 86.6% during the 3rd quarter. Western Standard LLC now owns 169,069 shares of the industrial products company’s stock worth $4,316,000 after purchasing an additional 78,450 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of TriMas by 216.4% in the 3rd quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock valued at $10,467,000 after acquiring an additional 280,431 shares during the last quarter. Barclays PLC grew its stake in TriMas by 341.3% during the 3rd quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock worth $1,755,000 after buying an additional 53,203 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 buying an additional 51,701 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of TriMas by 74.4% during the third quarter. Jane Street Group LLC now owns 82,621 shares of the industrial products company’s stock valued at $2,109,000 after purchasing an additional 35,258 shares during the last quarter. Hedge funds and other 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.