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

Shares of TriMas Co. (NASDAQ:TRS) gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

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

TriMas Stock Down 5.5 %

The company has a market cap of $1.05 billion, a PE ratio of 28.16 and a beta of 0.67. The stock has a 50-day moving average of $26.19 and a 200-day moving average of $25.76. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The business had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. During the same period in the prior year, the company earned $0.30 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that TriMas Co. will post 2.03 earnings per share for the current fiscal year.

TriMas Announces Dividend

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

Insider Buying and Selling at TriMas

In related news, Director Herbert K. Parker acquired 1,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $25.98 per share, for a total transaction of $25,980.00. Following the transaction, the director now owns 30,057 shares in the company, valued at approximately $780,880.86. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Herbert K. Parker acquired 1,000 shares of TriMas stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $25.98 per share, for a total transaction of $25,980.00. Following the transaction, the director now owns 30,057 shares of the company’s stock, valued at $780,880.86. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $26.34 per share, for a total transaction of $39,510.00. Following the completion of the acquisition, 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. Insiders purchased a total of 14,681 shares of company stock worth $387,053 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On TriMas

A number of hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of TriMas during the second quarter valued at about $26,000. Bank of New York Mellon Corp increased its position in TriMas by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 262,294 shares of the industrial products company’s stock valued at $6,704,000 after buying an additional 19,849 shares in the last quarter. Diversified Trust Co increased its holdings in shares of TriMas by 5.0% during the second quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 1,072 shares in the last quarter. Kennedy Capital Management LLC raised its position in shares of 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 purchasing an additional 181,447 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in TriMas by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,870 shares of the industrial products company’s stock worth $639,000 after purchasing an additional 1,478 shares in the last quarter. 99.42% of the stock is currently 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.