BWS Financial Reiterates 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 $0.56 EPS and Q4 2024 earnings at $0.37 EPS.

TriMas Stock Down 2.2 %

TRS stock opened at $23.76 on Wednesday. The firm has a market capitalization of $965.84 million, a PE ratio of 24.49 and a beta of 0.67. The company has a quick ratio of 1.41, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. TriMas has a twelve month low of $22.59 and a twelve month high of $27.89. The stock’s 50 day moving average is $25.98 and its 200-day moving average is $25.75.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.10). TriMas had a net margin of 4.44% and a return on equity of 9.61%. The company had revenue of $240.50 million for the quarter, compared to the consensus estimate of $238.63 million. During the same quarter last year, the business posted $0.50 earnings per share. TriMas’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts expect that TriMas will post 1.8 EPS for the current fiscal year.

TriMas Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.67%. TriMas’s dividend payout ratio is currently 16.49%.

Insider Activity

In other TriMas news, CFO Scott A. Mell sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total value of $40,950.00. Following the completion of the transaction, the chief financial officer now owns 31,923 shares in the company, valued at approximately $871,497.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TriMas news, CFO Scott A. Mell sold 1,500 shares of TriMas stock in a transaction dated Tuesday, May 21st. The shares were 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 of the company’s stock, valued at $871,497.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker bought 6,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $26.27 per share, for a total transaction of $157,620.00. Following the completion of the purchase, the director now owns 51,157 shares of the company’s stock, valued at $1,343,894.39. The disclosure for this purchase can be found here. Insiders acquired a total of 12,181 shares of company stock valued at $321,563 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of TriMas

A number of large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted 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 valued at $77,757,000 after buying an additional 422,717 shares in the last quarter. Norges Bank bought a new stake in TriMas during the 4th quarter valued at $6,767,000. Kennedy Capital Management LLC lifted its position in shares of TriMas by 197.8% during the first quarter. Kennedy Capital Management LLC now owns 273,200 shares of the industrial products company’s stock worth $7,303,000 after acquiring an additional 181,447 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of TriMas in the fourth quarter worth $3,764,000. Finally, Fiduciary Management Inc. WI grew its position in shares of TriMas by 4.3% in the fourth quarter. Fiduciary Management Inc. WI now owns 3,106,943 shares of the industrial products company’s stock valued at $78,699,000 after purchasing an additional 129,477 shares in the last quarter. 99.42% of the stock is owned by hedge funds and other 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.