TriMas (NASDAQ:TRS) Hits New 1-Year High - Time to Buy?

Shares of TriMas Corporation (NASDAQ:TRS - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $30.12 and last traded at $29.76, with a volume of 395205 shares trading hands. The stock had previously closed at $29.05.

Analysts Set New Price Targets

A number of brokerages have commented on TRS. BWS Financial reiterated a "buy" rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of TriMas from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st.

TriMas Trading Up 0.7%

The business's 50 day moving average price is $26.22 and its 200-day moving average price is $24.25. The company has a current ratio of 2.82, a quick ratio of 1.49 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 38.92 and a beta of 0.63.

TriMas (NASDAQ:TRS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $241.67 million during the quarter, compared to analysts' expectations of $235.41 million. TriMas had a net margin of 3.36% and a return on equity of 10.54%. TriMas's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, equities analysts anticipate that TriMas Corporation will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, May 6th. TriMas's dividend payout ratio is 20.78%.

Insider Transactions at TriMas

In other TriMas news, Director Adrianne Shapira purchased 4,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $25.82 per share, with a total value of $103,280.00. Following the completion of the transaction, the director owned 8,476 shares in the company, valued at $218,850.32. The trade was a 89.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shawn Sedaghat purchased 410,172 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $25.43 per share, for a total transaction of $10,430,673.96. Following the completion of the transaction, the director owned 1,810,821 shares of the company's stock, valued at $46,049,178.03. This trade represents a 29.28% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 971,649 shares of company stock worth $24,585,343. 14.20% of the stock is owned by insiders.

Hedge Funds Weigh In On TriMas

A number of hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC increased its holdings in TriMas by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock valued at $32,000 after buying an additional 1,158 shares during the period. State of Wyoming bought a new position in TriMas in the 4th quarter valued at about $50,000. KLP Kapitalforvaltning AS bought a new position in TriMas in the 4th quarter valued at about $202,000. Comerica Bank increased its holdings in TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock valued at $261,000 after buying an additional 7,584 shares during the period. Finally, ProShare Advisors LLC bought a new position in TriMas in the 4th quarter valued at about $281,000. 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.