BWS Financial Reaffirms Buy Rating for TriMas (NASDAQ:TRS)

BWS Financial reiterated their buy rating on shares of TriMas (NASDAQ:TRS) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $40.00 price objective on the industrial products company’s stock. BWS Financial also issued estimates for TriMas’ Q3 2024 earnings at $0.63 EPS.

TriMas Trading Down 0.0 %

Shares of TriMas stock opened at $26.21 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 2.73. TriMas has a 52 week low of $22.59 and a 52 week high of $29.07. The stock has a 50 day moving average price of $25.59 and a two-hundred day moving average price of $25.11. The stock has a market capitalization of $1.07 billion, a PE ratio of 27.02 and a beta of 0.71.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The business had revenue of $227.10 million during the quarter, compared to the consensus estimate of $220.60 million. During the same quarter last year, the firm posted $0.30 EPS. TriMas’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that TriMas will post 1.92 earnings per share for the current fiscal year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.61%. TriMas’s payout ratio is 16.49%.

Insiders Place Their Bets

In related news, Director Herbert K. Parker purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $25.98 per share, for a total transaction of $25,980.00. Following the completion of the acquisition, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Herbert K. Parker purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $25.98 per share, for a total transaction of $25,980.00. Following the completion of the acquisition, the director now owns 30,057 shares in the company, valued at $780,880.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herbert K. Parker acquired 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $26.34 per share, with a total value of $39,510.00. Following the purchase, the director now owns 33,057 shares in the company, valued at approximately $870,721.38. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 13,500 shares of company stock valued at $325,550. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of TriMas

A number of hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its position in shares of TriMas by 30.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 10,098 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of TriMas by 4.4% in the third 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. Allspring Global Investments Holdings LLC lifted its position in shares of TriMas by 16.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock valued at $77,757,000 after buying an additional 422,717 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TriMas by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after acquiring an additional 34,517 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in TriMas by 8.3% in the 4th 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. 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.