TriMas (NASDAQ:TRS) Price Target Lowered to $38.00 at KeyCorp

TriMas (NASDAQ:TRS) had its target price reduced by KeyCorp from $45.00 to $38.00 in a report released on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on TRS. Weiss Ratings reissued a “hold (c+)” rating on shares of TriMas in a research note on Tuesday. BWS Financial reaffirmed a “buy” rating and set a $45.00 price target on shares of TriMas in a research note on Friday, October 31st. Finally, Zacks Research raised shares of TriMas from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, TriMas currently has a consensus rating of “Buy” and a consensus price target of $41.50.

TriMas Trading Up 0.5%

NASDAQ:TRS traded up $0.16 on Thursday, reaching $31.24. 705,469 shares of the company’s stock were exchanged, compared to its average volume of 452,613. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.93 and a beta of 0.64. The company has a quick ratio of 1.44, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. TriMas has a 52-week low of $19.33 and a 52-week high of $40.34. The business has a fifty day moving average of $36.90 and a 200-day moving average of $32.60.

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

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 6th. TriMas’s dividend payout ratio is currently 14.81%.

Insider Transactions at TriMas

In related news, Director Jeffrey A. Fielkow bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average cost of $31.46 per share, for a total transaction of $62,920.00. Following the acquisition, the director directly owned 17,653 shares of the company’s stock, valued at $555,363.38. The trade was a 12.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 14.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of TriMas by 0.3% in the 2nd quarter. Bank of America Corp DE now owns 3,660,001 shares of the industrial products company’s stock valued at $104,713,000 after buying an additional 9,602 shares in the last quarter. Capital International Investors acquired a new position in TriMas during the 3rd quarter worth $111,673,000. Pzena Investment Management LLC boosted its holdings in TriMas by 2.0% in the second quarter. Pzena Investment Management LLC now owns 2,177,761 shares of the industrial products company’s stock valued at $62,306,000 after acquiring an additional 42,207 shares during the last quarter. Irenic Capital Management LP acquired a new stake in shares of TriMas during the 1st quarter worth approximately $19,997,000. Finally, Kennedy Capital Management LLC lifted its stake in shares of TriMas by 0.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 778,979 shares of the industrial products company’s stock valued at $30,100,000 after purchasing an additional 7,074 shares during the period. 99.42% of the stock is owned by institutional investors and hedge funds.

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.