TriMas (NASDAQ:TRS) Shares Gap Up After Strong Earnings

TriMas Co. (NASDAQ:TRS)’s share price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. 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.

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

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 6th. TriMas’s dividend payout ratio (DPR) is 27.12%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Jeffrey A. Fielkow acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $20.78 per share, for a total transaction of $51,950.00. Following the transaction, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shawn Sedaghat bought 249,597 shares of TriMas stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $23.83 per share, for a total transaction of $5,947,896.51. Following the purchase, the director now directly owns 346,825 shares in the company, valued at approximately $8,264,839.75. The trade was a 256.71 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 806,246 shares of company stock worth $19,338,213 in the last quarter. 14.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriMas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its position in TriMas by 815.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,158 shares in the last quarter. State of Wyoming acquired a new position in shares of TriMas during the 4th quarter worth approximately $50,000. KLP Kapitalforvaltning AS bought a new stake in TriMas in the 4th quarter valued at $202,000. ProShare Advisors LLC bought a new position in TriMas during the fourth quarter worth $281,000. Finally, Quantbot Technologies LP boosted its holdings in shares of TriMas by 203.5% during the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company’s stock worth $295,000 after buying an additional 8,031 shares during the period. 99.42% of the stock is owned by institutional investors and hedge funds.

TriMas Trading Up 10.2 %

The business has a fifty day moving average price of $22.34 and a 200-day moving average price of $24.36. The company has a market cap of $942.21 million, a P/E ratio of 36.41 and a beta of 0.55. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60.

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.