TriMas (NASDAQ:TRS) Share Price Passes Below 50 Day Moving Average – What’s Next?

TriMas Co. (NASDAQ:TRS)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $24.74 and traded as low as $24.07. TriMas shares last traded at $24.11, with a volume of 154,009 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TRS shares. StockNews.com raised shares of TriMas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. BWS Financial reissued a “buy” rating and issued a $40.00 target price on shares of TriMas in a research note on Thursday, January 23rd.

TriMas Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The stock’s 50-day simple moving average is $24.74 and its 200 day simple moving average is $25.35. The stock has a market capitalization of $978.14 million, a P/E ratio of 37.67 and a beta of 0.66.

TriMas (NASDAQ:TRS) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). TriMas had a return on equity of 9.21% and a net margin of 2.93%. The company had revenue of $229.36 million for the quarter, compared to the consensus estimate of $239.33 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts expect that TriMas Co. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On TriMas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in TriMas during the third quarter worth $269,000. Paloma Partners Management Co acquired a new position in shares of TriMas in the third quarter valued at about $293,000. XTX Topco Ltd acquired a new position in shares of TriMas in the third quarter valued at about $371,000. Inspire Investing LLC grew its stake in shares of TriMas by 17.4% in the third quarter. Inspire Investing LLC now owns 16,155 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 2,389 shares in the last quarter. Finally, Creative Planning grew its stake in shares of TriMas by 11.0% in the second quarter. Creative Planning now owns 27,056 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 2,681 shares in the last quarter. 99.42% of the stock is owned by institutional investors.

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.