TriMas (NASDAQ:TRS) Hits New 12-Month High After Dividend Announcement

TriMas Corporation (NASDAQ:TRS - Get Free Report) reached 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 traded. The stock had previously closed at $30.81.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRS shares. Wall Street Zen raised 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 $40.00 price target on shares of TriMas in a research note on Wednesday, April 30th.

TriMas Trading Down 0.1%

The business has a 50 day moving average of $27.79 and a two-hundred day moving average of $24.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.82. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 40.95 and a beta of 0.63.

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

Insiders Place Their Bets

In other news, Director Shawn Sedaghat bought 72,937 shares of TriMas stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $26.16 per share, with a total value of $1,908,031.92. Following the completion of the purchase, the director directly owned 1,883,758 shares in the company, valued at $49,279,109.28. The trade was a 4.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Adrianne Shapira bought 4,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $25.82 per share, for a total transaction of $103,280.00. Following the completion of the purchase, the director directly owned 8,476 shares of the company's stock, valued at $218,850.32. The trade was a 89.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 971,649 shares of company stock worth $24,585,343 in the last quarter. 14.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriMas

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TriMas by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company's stock worth $568,000 after acquiring an additional 834 shares during the last quarter. Sterling Capital Management LLC grew its position 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 worth $32,000 after purchasing an additional 1,158 shares during the period. MetLife Investment Management LLC grew its position in TriMas by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 24,788 shares of the industrial products company's stock worth $610,000 after purchasing an additional 1,378 shares during the period. Bank of New York Mellon Corp grew its position in TriMas by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 247,761 shares of the industrial products company's stock worth $5,805,000 after purchasing an additional 1,664 shares during the period. Finally, State of Wyoming bought a new stake in TriMas in the 4th quarter worth approximately $50,000. 99.42% of the stock is currently owned by hedge funds and other institutional investors.

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.