TriMas (NASDAQ:TRS) Sets New 12-Month High - Should You Buy?

Key Points

• TriMas Corporation reached a new 52-week high of $37.48 on Wednesday, closing at $36.92 with a trading volume of 207,777 shares.
• Analysts have upgraded TriMas stock, with BWS Financial and KeyCorp both setting a price target of $45.00 and giving it a "buy" and "overweight" rating, respectively.
• TriMas recently announced a quarterly dividend of $0.04 per share, leading to an annualized dividend yield of 0.4%, with a dividend payout ratio of 17.58%.

TriMas Corporation (NASDAQ:TRS - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $37.48 and last traded at $36.92, with a volume of 207777 shares changing hands. The stock had previously closed at $35.67.

Wall Street Analysts Forecast Growth

TRS has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of TriMas from a "hold" rating to a "buy" rating in a research note on Sunday, June 1st. BWS Financial reaffirmed a "buy" rating and set a $45.00 target price (up previously from $40.00) on shares of TriMas in a research report on Wednesday, July 30th. Finally, KeyCorp set a $45.00 price target on TriMas and gave the company an "overweight" rating in a report on Tuesday, August 12th.

TriMas Trading Up 0.1%

The company has a current ratio of 2.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $30.89 and a 200 day simple moving average of $26.07. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 40.46 and a beta of 0.66.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.11. TriMas had a net margin of 3.83% and a return on equity of 11.49%. The firm had revenue of $274.76 million for the quarter, compared to analyst estimates of $251.18 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The business's quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts predict that TriMas Corporation will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. TriMas's dividend payout ratio (DPR) is 17.58%.

Insiders Place Their Bets

In other TriMas news, Director Adrianne Shapira bought 4,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $25.82 per share, with a total value of $103,280.00. Following the completion of the acquisition, the director directly owned 8,476 shares of the company's stock, valued at $218,850.32. This represents a 89.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shawn Sedaghat acquired 410,172 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $25.43 per share, with a total value of $10,430,673.96. Following the purchase, the director owned 1,810,821 shares in the company, valued at $46,049,178.03. This represents a 29.28% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 593,332 shares of company stock valued at $15,173,289 over the last 90 days. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TriMas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in TriMas by 815.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock worth $32,000 after purchasing an additional 1,158 shares during the period. State of Wyoming acquired a new position in shares of TriMas in the fourth quarter valued at approximately $50,000. BNP Paribas Financial Markets increased its stake in TriMas by 35.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,319 shares of the industrial products company's stock worth $95,000 after buying an additional 868 shares during the period. Tower Research Capital LLC TRC lifted its holdings in TriMas by 280.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,193 shares of the industrial products company's stock worth $120,000 after buying an additional 3,091 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in TriMas in the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 99.42% of the company's stock.

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.