TriMas (NASDAQ:TRS) Shares Gap Down – Here’s What Happened

TriMas Co. (NASDAQ:TRS) gapped down before the market opened on Monday . The stock had previously closed at $27.06, but opened at $26.36. TriMas shares last traded at $26.11, with a volume of 17,817 shares trading hands.

Analyst Ratings Changes

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

TriMas Stock Performance

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 $25.83 and its 200-day moving average is $25.82. The company has a market capitalization of $1.04 billion, a P/E ratio of 27.17 and a beta of 0.66.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. TriMas’s payout ratio is 16.33%.

Hedge Funds Weigh In On TriMas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in TriMas by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 4,358,524 shares of the industrial products company’s stock valued at $116,503,000 after acquiring an additional 100,068 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of TriMas by 1.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company’s stock worth $80,298,000 after purchasing an additional 51,701 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TriMas by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,530,874 shares of the industrial products company’s stock valued at $64,689,000 after purchasing an additional 19,436 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of TriMas by 216.4% during the third quarter. Impax Asset Management Group plc now owns 410,000 shares of the industrial products company’s stock valued at $10,467,000 after buying an additional 280,431 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in 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. 99.42% of the stock is currently owned by institutional investors.

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.