TriMas (NASDAQ:TRS) Reaches New 52-Week High - Should You Buy?

TriMas Corporation (NASDAQ:TRS - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $30.24 and last traded at $30.17, with a volume of 95264 shares trading hands. The stock had previously closed at $29.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TRS shares. BWS Financial reiterated a "buy" rating and set a $40.00 target price on shares of TriMas in a report on Wednesday, April 30th. Wall Street Zen upgraded TriMas from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st.

TriMas Trading Down 0.3%

The business has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $24.40. 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 stock 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 issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. TriMas had a return on equity of 10.54% and a net margin of 3.36%. The firm had revenue of $241.67 million during the quarter, compared to analyst estimates of $235.41 million. During the same quarter last year, the firm earned $0.37 EPS. TriMas's quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts anticipate that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were given a $0.04 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.53%. TriMas's payout ratio is 20.78%.

Insider Activity at TriMas

In related news, Director Adrianne Shapira purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of $25.82 per share, with a total value of $103,280.00. Following the acquisition, the director owned 8,476 shares in the company, valued at approximately $218,850.32. This trade represents a 89.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shawn Sedaghat bought 410,172 shares of the business's stock in a transaction 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 purchase, the director directly owned 1,810,821 shares in the company, valued at $46,049,178.03. This represents a 29.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 971,649 shares of company stock valued at $24,585,343. Insiders own 14.20% of the company's stock.

Hedge Funds Weigh In On TriMas

A number of hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC grew its stake in TriMas by 815.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 1,158 shares in the last quarter. State of Wyoming purchased a new position in TriMas in the fourth quarter valued at about $50,000. KLP Kapitalforvaltning AS purchased a new position in TriMas in the fourth quarter valued at about $202,000. Comerica Bank grew its stake in TriMas by 214.5% in the first quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock valued at $261,000 after purchasing an additional 7,584 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in TriMas in the fourth quarter valued at about $281,000. 99.42% of the stock is currently owned by institutional investors and hedge funds.

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.