TriMas (NASDAQ:TRS) Hits New 12-Month High - What's Next?

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) hit a new 52-week high on Wednesday . The stock traded as high as $37.48 and last traded at $36.92, with a volume of 207777 shares traded. The stock had previously closed at $35.67.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TRS. Wall Street Zen raised TriMas from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. BWS Financial reissued a "buy" rating and issued a $45.00 price target (up previously from $40.00) on shares of TriMas in a research note on Wednesday, July 30th. Finally, KeyCorp set a $45.00 price target on TriMas and gave the stock an "overweight" rating in a research note on Tuesday.

TriMas Stock Performance

The company has a 50 day moving average price of $30.21 and a 200-day moving average price of $25.80. The company has a market cap of $1.49 billion, a P/E ratio of 40.47 and a beta of 0.66. The company has a quick ratio of 1.44, a current ratio of 2.59 and a debt-to-equity ratio of 0.59.

TriMas (NASDAQ:TRS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.11. TriMas had a return on equity of 11.49% and a net margin of 3.83%. The business had revenue of $274.76 million during the quarter, compared to analysts' expectations of $251.18 million. During the same quarter last year, the business posted $0.43 earnings per share. The company's quarterly revenue was up 14.2% on a year-over-year basis. Equities analysts expect that TriMas Corporation will post 1.69 EPS for the current fiscal year.

TriMas Announces Dividend

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

Insider Activity

In related news, Director Shawn Sedaghat purchased 410,172 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average price of $25.43 per share, for a total transaction of $10,430,673.96. Following the transaction, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Adrianne Shapira purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $25.82 per share, with a total value of $103,280.00. Following the transaction, the director directly owned 8,476 shares in the company, valued at $218,850.32. This trade represents a 89.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 848,166 shares of company stock valued at $21,642,659 in the last ninety days. Company insiders own 14.20% of the company's stock.

Institutional Investors Weigh In On TriMas

Several hedge funds have recently bought and sold shares of TRS. Loomis Sayles & Co. L P raised its stake in shares of TriMas by 42.5% during the 2nd quarter. Loomis Sayles & Co. L P now owns 396,533 shares of the industrial products company's stock worth $11,345,000 after purchasing an additional 118,313 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of TriMas by 10,260.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 55,326 shares of the industrial products company's stock worth $1,583,000 after purchasing an additional 54,792 shares in the last quarter. XTX Topco Ltd raised its stake in shares of TriMas by 110.6% during the 2nd quarter. XTX Topco Ltd now owns 43,976 shares of the industrial products company's stock worth $1,258,000 after purchasing an additional 23,098 shares in the last quarter. American Century Companies Inc. raised its stake in shares of TriMas by 5.5% during the 2nd quarter. American Century Companies Inc. now owns 90,734 shares of the industrial products company's stock worth $2,596,000 after purchasing an additional 4,717 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of TriMas during the 2nd quarter worth about $498,000. 99.42% of the stock is owned by hedge funds and other 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.

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