TriMas (NASDAQ:TRS) Sets New 52-Week High – Here’s Why

Shares of TriMas Co. (NASDAQ:TRS) reached a new 52-week high during mid-day trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

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

TriMas Trading Up 5.4 %

The stock has a market cap of $1.14 billion, a PE ratio of 27.11 and a beta of 0.67. The firm has a 50-day moving average price of $24.80 and a 200-day moving average price of $25.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82.

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

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, August 6th. TriMas’s dividend payout ratio is currently 16.33%.

Hedge Funds Weigh In On TriMas

Several hedge funds and other institutional investors have recently bought and sold shares of TRS. Quantbot Technologies LP lifted its holdings in shares of TriMas by 5.7% during the 1st quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock valued at $239,000 after buying an additional 478 shares during the period. Algert Global LLC boosted its position in TriMas by 4.2% in the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 639 shares during the last quarter. Rhumbline Advisers grew its stake in shares of TriMas by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 69,328 shares of the industrial products company’s stock valued at $1,772,000 after purchasing an additional 985 shares during the period. Innealta Capital LLC bought a new stake in shares of TriMas during the 2nd quarter valued at about $26,000. Finally, Diversified Trust Co increased its position 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 valued at $581,000 after purchasing an additional 1,072 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.