TriMas (NASDAQ:TRS) Sets New 1-Year High on Earnings Beat

Key Points

• TriMas Corporation achieved a new 52-week high of $36.77 after reporting an earnings per share (EPS) of $0.61 for the quarter, surpassing the consensus estimate of $0.50.
• The company announced a quarterly dividend of $0.04, reflecting a modest annual yield of 0.46% and a payout ratio of 20.78%.
• Increased institutional investor activity is notable, with Deutsche Bank AG and GAMMA Investing LLC significantly raising their stakes in TriMas shares recently.

TriMas Corporation (NASDAQ:TRS - Get Free Report)'s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $36.77 and last traded at $34.87, with a volume of 1403175 shares traded. The stock had previously closed at $31.48.

The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.11. The business had revenue of $274.76 million for the quarter, compared to the consensus estimate of $251.18 million. TriMas had a net margin of 3.83% and a return on equity of 11.65%. The company's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors 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 0.45%. The ex-dividend date of this dividend is Tuesday, August 5th. TriMas's payout ratio is 20.78%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BWS Financial boosted their price objective on shares of TriMas from $40.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen upgraded TriMas from a "hold" rating to a "buy" rating in a report on Sunday, June 1st.

Insider Buying and Selling

In other TriMas news, Director Shawn Sedaghat purchased 410,172 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $25.43 per share, for a total transaction of $10,430,673.96. Following the purchase, the director directly owned 1,810,821 shares in the company, valued at $46,049,178.03. This trade represents a 29.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adrianne Shapira acquired 4,000 shares of TriMas stock in a transaction on 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 approximately $218,850.32. This trade represents a 89.37% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 848,261 shares of company stock valued at $21,645,007 in the last ninety days. Company insiders own 14.20% of the company's stock.

Hedge Funds Weigh In On TriMas

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG boosted its stake in shares of TriMas by 45.6% in the 4th quarter. Deutsche Bank AG now owns 36,305 shares of the industrial products company's stock valued at $893,000 after purchasing an additional 11,363 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of TriMas by 3,802.9% in the 1st quarter. GAMMA Investing LLC now owns 14,948 shares of the industrial products company's stock worth $350,000 after acquiring an additional 14,565 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TriMas by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company's stock valued at $568,000 after buying an additional 834 shares during the last quarter. Wells Fargo & Company MN grew its holdings in TriMas by 21.1% during the 4th quarter. Wells Fargo & Company MN now owns 37,729 shares of the industrial products company's stock valued at $928,000 after buying an additional 6,573 shares in the last quarter. Finally, Barclays PLC raised its stake in TriMas by 51.4% in the fourth quarter. Barclays PLC now owns 104,163 shares of the industrial products company's stock valued at $2,560,000 after purchasing an additional 35,371 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

TriMas Trading Up 2.4%

The stock's fifty day moving average price is $28.35 and its two-hundred day moving average price is $25.03. The company has a current ratio of 2.82, a quick ratio of 1.49 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.45 billion, a P/E ratio of 39.23 and a beta of 0.63.

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.