TriMas (NASDAQ:TRS) Sets New 52-Week High – What’s Next?

by · The Markets Daily

TriMas Co. (NASDAQ:TRS – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $28.11 and last traded at $28.00, with a volume of 1578394 shares changing hands. The stock had previously closed at $26.57.

Analysts Set New Price Targets

Separately, BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research report on Wednesday, October 9th.

Get Our Latest Stock Report on TriMas

TriMas Stock Down 0.4 %

The company has a market cap of $1.14 billion, a PE ratio of 28.67 and a beta of 0.67. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $25.07 and its 200 day moving average is $25.71.

TriMas (NASDAQ:TRS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.10). TriMas had a net margin of 4.44% and a return on equity of 9.61%. The firm had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $238.63 million. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts predict that TriMas Co. will post 1.75 earnings per share for the current fiscal year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.57%. TriMas’s dividend payout ratio (DPR) is presently 16.33%.

Hedge Funds Weigh In On TriMas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Investing LLC boosted its holdings in TriMas by 17.4% in the third quarter. Inspire Investing LLC now owns 16,155 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 2,389 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of TriMas in the 2nd quarter valued at about $245,000. Creative Planning boosted its stake in shares of TriMas by 11.0% in the second quarter. Creative Planning now owns 27,056 shares of the industrial products company’s stock worth $692,000 after buying an additional 2,681 shares during the last quarter. Algert Global LLC grew its holdings in TriMas by 4.2% during the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 639 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in TriMas during the second quarter worth about $611,000. 99.42% of the stock is owned by hedge funds and other institutional investors.

About TriMas

(Get Free Report)

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.

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