TriMas (NASDAQ:TRS) Sets New 52-Week High Following Dividend Announcement

TriMas Corporation (NASDAQ:TRS - Get Free Report)'s stock price hit a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $31.75 and last traded at $31.55, with a volume of 409253 shares changing hands. The stock had previously closed at $30.81.

The newly announced dividend which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, August 5th. TriMas's payout ratio is currently 20.78%.

Analyst Ratings Changes

Several research analysts have weighed in on TRS shares. Wall Street Zen raised shares of TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. BWS Financial reissued a "buy" rating and set a $40.00 price objective on shares of TriMas in a report on Wednesday, April 30th.

TriMas Stock Performance

The firm's 50-day moving average price is $28.06 and its two-hundred day moving average price is $24.89. The firm has a market capitalization of $1.28 billion, a PE ratio of 40.82 and a beta of 0.63. The company has a quick ratio of 1.49, a current ratio of 2.82 and a debt-to-equity ratio of 0.63.

TriMas (NASDAQ:TRS - Get Free Report) last announced 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. TriMas had a net margin of 3.36% and a return on equity of 10.54%. The business had revenue of $241.67 million for the quarter, compared to analyst estimates of $235.41 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. TriMas's revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at TriMas

In other TriMas news, Director Shawn Sedaghat purchased 410,172 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was bought at an average cost of $25.43 per share, with a total value of $10,430,673.96. Following the purchase, the director directly owned 1,810,821 shares of the company's stock, valued at $46,049,178.03. The trade was a 29.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Adrianne Shapira purchased 4,000 shares of the firm's stock in a transaction dated 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 purchase, the director directly owned 8,476 shares in the company, valued at approximately $218,850.32. This represents a 89.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 971,649 shares of company stock worth $24,585,343. Corporate insiders own 14.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised 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 acquiring an additional 1,158 shares in the last quarter. State of Wyoming bought a new stake in shares of TriMas during the fourth quarter worth about $50,000. KLP Kapitalforvaltning AS bought a new stake in shares of TriMas during the fourth quarter worth about $202,000. Apexium Financial LP bought a new stake in shares of TriMas during the second quarter worth about $243,000. Finally, Comerica Bank boosted its holdings 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 acquiring an additional 7,584 shares during the last quarter. Institutional investors and hedge funds 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.