TriMas (NASDAQ:TRS) Stock Price Down 4.6% Following Weak Earnings

TriMas Co. (NASDAQ:TRS)’s share price fell 4.6% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $24.06 and last traded at $24.22. 93,745 shares traded hands during trading, a decline of 56% from the average session volume of 213,139 shares. The stock had previously closed at $25.38.

The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). TriMas had a return on equity of 9.68% and a net margin of 4.48%. The business had revenue of $240.50 million for the quarter, compared to analyst estimates of $238.63 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis.

TriMas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, August 6th. TriMas’s payout ratio is currently 16.49%.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $40.00 price objective on shares of TriMas in a research report on Wednesday.

Insider Activity

In other news, Director Herbert K. Parker acquired 1,500 shares of TriMas stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $26.34 per share, for a total transaction of $39,510.00. Following the completion of the transaction, the director now directly owns 33,057 shares in the company, valued at $870,721.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Herbert K. Parker purchased 6,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of $26.27 per share, with a total value of $157,620.00. Following the purchase, the director now directly owns 51,157 shares in the company, valued at approximately $1,343,894.39. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herbert K. Parker purchased 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $26.34 per share, with a total value of $39,510.00. Following the acquisition, the director now directly owns 33,057 shares in the company, valued at $870,721.38. The disclosure for this purchase can be found here. Insiders have bought a total of 13,681 shares of company stock valued at $361,073 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of TriMas during the 2nd quarter worth approximately $26,000. Bank of New York Mellon Corp grew its holdings in TriMas by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 262,294 shares of the industrial products company’s stock valued at $6,704,000 after purchasing an additional 19,849 shares during the last quarter. Diversified Trust Co raised its stake in shares of TriMas by 5.0% during the 2nd quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock worth $581,000 after buying an additional 1,072 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of TriMas by 197.8% in the 1st quarter. Kennedy Capital Management LLC now owns 273,200 shares of the industrial products company’s stock worth $7,303,000 after buying an additional 181,447 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in TriMas by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,870 shares of the industrial products company’s stock valued at $639,000 after acquiring an additional 1,478 shares during the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

TriMas Price Performance

The stock has a market capitalization of $984.85 million, a PE ratio of 25.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.73. The company’s fifty day simple moving average is $26.15 and its two-hundred day simple moving average is $25.76.

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.