TriMas (NASDAQ:TRS) Shares Gap Down Following Weak Earnings

TriMas Co. (NASDAQ:TRS)’s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $21.87, but opened at $20.56. TriMas shares last traded at $19.87, with a volume of 48,795 shares changing hands.

The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.05). TriMas had a net margin of 2.93% and a return on equity of 9.21%.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 28th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, February 28th. TriMas’s dividend payout ratio (DPR) is currently 25.00%.

Analysts Set New Price Targets

TRS has been the subject of several analyst reports. BWS Financial reissued a “buy” rating and set a $40.00 price target on shares of TriMas in a research report on Thursday, January 23rd. StockNews.com raised shares of TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On TriMas

A number of large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in TriMas by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,806 shares of the industrial products company’s stock worth $2,651,000 after purchasing an additional 16,826 shares during the period. Two Sigma Investments LP grew its position in TriMas by 8.2% in the 4th quarter. Two Sigma Investments LP now owns 134,580 shares of the industrial products company’s stock worth $3,309,000 after purchasing an additional 10,210 shares during the period. State of Wyoming bought a new stake in TriMas in the 4th quarter worth approximately $50,000. Shay Capital LLC bought a new stake in shares of TriMas during the 4th quarter valued at $740,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of TriMas during the 4th quarter valued at $430,000. Institutional investors own 99.42% of the company’s stock.

TriMas Stock Performance

The business’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.15. 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 stock has a market cap of $815.29 million, a P/E ratio of 30.97 and a beta of 0.66.

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.