TriMas (NASDAQ:TRS) Given Buy Rating at BWS Financial

BWS Financial reaffirmed their buy rating on shares of TriMas (NASDAQ:TRS) in a research note published on Wednesday morning, Benzinga reports. They currently have a $40.00 price objective on the industrial products company’s stock.

TriMas Stock Down 0.8 %

TriMas stock opened at $25.79 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49. The company has a market capitalization of $1.05 billion, a P/E ratio of 26.59 and a beta of 0.71. TriMas has a fifty-two week low of $22.59 and a fifty-two week high of $29.07. The stock has a 50-day simple moving average of $25.57 and a 200-day simple moving average of $25.09.

TriMas (NASDAQ:TRS) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $227.10 million during the quarter, compared to analysts’ expectations of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. Equities research analysts expect that TriMas will post 1.91 earnings per share for the current year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, May 6th. TriMas’s dividend payout ratio is currently 16.49%.

Insider Activity at TriMas

In related news, CEO Thomas A. Amato acquired 10,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the transaction, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at approximately $6,759,288.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TriMas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its stake in TriMas by 30.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock worth $1,079,000 after purchasing an additional 10,098 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of TriMas by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock valued at $12,802,000 after buying an additional 21,767 shares during the period. Vanguard Group Inc. boosted its holdings in shares of TriMas by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock valued at $104,364,000 after buying an additional 34,517 shares during the period. Allspring Global Investments Holdings LLC raised its stake in TriMas by 16.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock worth $77,757,000 after acquiring an additional 422,717 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in TriMas by 8.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 102,562 shares of the industrial products company’s stock worth $2,598,000 after acquiring an additional 7,903 shares during the last quarter. Institutional investors own 99.42% of the company’s stock.

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.