TriMas (NASDAQ:TRS) Shares Gap Down to $27.32

Shares of TriMas Co. (NASDAQ:TRS) gapped down before the market opened on Tuesday . The stock had previously closed at $27.32, but opened at $23.74. TriMas shares last traded at $24.58, with a volume of 62,008 shares.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and issued a $40.00 price objective on shares of TriMas in a research report on Wednesday, May 1st.

TriMas Stock Down 5.5 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 28.16 and a beta of 0.67. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $26.19 and its 200 day moving average price is $25.76.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.68% and a net margin of 4.48%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, research analysts forecast that TriMas Co. will post 2.03 earnings per share for the current fiscal year.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, August 6th. TriMas’s dividend payout ratio (DPR) is 16.49%.

Insider Activity at TriMas

In other TriMas news, Director Herbert K. Parker purchased 1,000 shares of TriMas stock in a transaction on Wednesday, May 1st. The stock was bought at an average cost of $25.98 per share, with a total value of $25,980.00. Following the transaction, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Scott A. Mell sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total value of $40,950.00. Following the sale, the chief financial officer now owns 31,923 shares in the company, valued at $871,497.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herbert K. Parker purchased 1,000 shares of TriMas stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $25.98 per share, with a total value of $25,980.00. Following the completion of the transaction, the director now owns 30,057 shares of the company’s stock, valued at approximately $780,880.86. The disclosure for this purchase can be found here. Insiders have bought a total of 14,681 shares of company stock worth $387,053 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TriMas

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings 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 valued at $104,364,000 after purchasing an additional 34,517 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of TriMas in the fourth quarter worth about $205,000. Allspring Global Investments Holdings LLC boosted its stake 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 worth $77,757,000 after acquiring an additional 422,717 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in shares of TriMas by 120.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 38,418 shares of the industrial products company’s stock worth $973,000 after acquiring an additional 21,000 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of TriMas by 19.8% during the 4th quarter. Handelsbanken Fonder AB now owns 15,095 shares of the industrial products company’s stock valued at $382,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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.