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

TriMas Corporation (NASDAQ:TRS - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $30.54 and last traded at $30.34, with a volume of 104624 shares. The stock had previously closed at $30.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BWS Financial reaffirmed a "buy" rating and set a $40.00 price target on shares of TriMas in a report on Wednesday, April 30th. Wall Street Zen raised shares of TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st.

TriMas Price Performance

The business's 50-day simple moving average is $27.39 and its two-hundred day simple moving average is $24.62. The company has a quick ratio of 1.49, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.25 billion, a P/E ratio of 40.05 and a beta of 0.63.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.46 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 3.36% and a return on equity of 10.54%. TriMas's revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $0.37 earnings per share. Sell-side analysts expect that TriMas Corporation will post 1.69 EPS for the current year.

Insider Buying and Selling at TriMas

In related news, Director Adrianne Shapira purchased 4,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shawn Sedaghat purchased 72,937 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased 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 owned 1,883,758 shares in the company, valued at approximately $49,279,109.28. This trade represents a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 971,649 shares of company stock worth $24,585,343. 14.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriMas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of TriMas by 127.3% during the 4th quarter. Bank of America Corp DE now owns 3,513,638 shares of the industrial products company's stock worth $86,400,000 after buying an additional 1,967,738 shares during the period. Irenic Capital Management LP acquired a new stake in shares of TriMas in the 1st quarter worth $19,997,000. Alta Fox Capital Management LLC acquired a new stake in shares of TriMas in the 1st quarter worth $17,385,000. Simcoe Capital Management LLC purchased a new position in shares of TriMas during the 1st quarter worth $6,451,000. Finally, Raymond James Financial Inc. purchased a new position in shares of TriMas during the 4th quarter worth $6,698,000. Hedge funds and other institutional investors own 99.42% of the company's stock.

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.