TriMas (NASDAQ:TRS) Shares Gap Up – Here’s Why

TriMas Corporation (NASDAQ:TRS) gapped up before the market opened on Tuesday . The stock had previously closed at $36.12, but opened at $38.19. TriMas shares last traded at $36.0230, with a volume of 312,128 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Zacks Research upgraded shares of TriMas from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. BWS Financial reiterated a “buy” rating and set a $45.00 price target on shares of TriMas in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of TriMas in a research report on Wednesday, October 8th. Finally, KeyCorp set a $45.00 target price on shares of TriMas and gave the company an “overweight” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $45.00.

TriMas Price Performance

The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 29.44 and a beta of 0.64. The business’s 50-day simple moving average is $37.78 and its two-hundred day simple moving average is $32.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.44.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $269.26 million for the quarter, compared to analyst estimates of $262.05 million. TriMas had a net margin of 4.35% and a return on equity of 12.39%. TriMas’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. TriMas has set its FY 2025 guidance at 2.020-2.120 EPS. Research analysts expect that TriMas Corporation will post 1.69 earnings per share for the current year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, November 6th. TriMas’s payout ratio is 14.81%.

Hedge Funds Weigh In On TriMas

A number of hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of TriMas by 8.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,693 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 654 shares during the period. BNP Paribas Financial Markets raised its stake in TriMas by 35.4% during the second quarter. BNP Paribas Financial Markets now owns 3,319 shares of the industrial products company’s stock worth $95,000 after buying an additional 868 shares during the last quarter. AE Wealth Management LLC raised its stake in TriMas by 13.2% during the third quarter. AE Wealth Management LLC now owns 8,408 shares of the industrial products company’s stock worth $325,000 after buying an additional 982 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TriMas by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,120 shares of the industrial products company’s stock worth $565,000 after buying an additional 1,014 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in TriMas by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 247,761 shares of the industrial products company’s stock worth $5,805,000 after buying an additional 1,664 shares during the last quarter. Institutional investors and hedge funds 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.