TriMas (NASDAQ:TRS) Hits New 52-Week High – Here’s What Happened

TriMas Co. (NASDAQ:TRS)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $28.50 and last traded at $28.38, with a volume of 6754 shares changing hands. The stock had previously closed at $28.32.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and set a $40.00 target price on shares of TriMas in a research report on Wednesday, October 9th.

TriMas Trading Down 1.5 %

The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.12 billion, a P/E ratio of 28.09 and a beta of 0.67. The firm’s 50-day moving average price is $25.32 and its 200 day moving average price is $25.73.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). The company had revenue of $240.50 million for the quarter, compared to the consensus estimate of $238.63 million. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities research analysts predict that TriMas Co. will post 1.75 earnings per share for the current year.

TriMas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.16 annualized dividend and a yield of 0.58%. TriMas’s dividend payout ratio (DPR) is 16.33%.

Hedge Funds Weigh In On TriMas

A number of hedge funds and other institutional investors have recently modified their holdings of TRS. Quantbot Technologies LP grew its position in TriMas by 5.7% during the first quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock valued at $239,000 after buying an additional 478 shares during the period. Algert Global LLC grew its position in shares of TriMas by 4.2% during the 2nd quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 639 shares during the period. Rhumbline Advisers increased its stake in shares of TriMas by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 69,328 shares of the industrial products company’s stock worth $1,772,000 after purchasing an additional 985 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of TriMas in the 2nd quarter worth approximately $26,000. Finally, Diversified Trust Co lifted its stake in TriMas by 5.0% in the second quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock valued at $581,000 after purchasing an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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.