TriMas (NASDAQ:TRS) Reaches New 52-Week High - Time to Buy?

Key Points

• TriMas Corporation's shares reached a new 52-week high of $38.75, marking a significant increase in trading volume.
• Analysts maintain a consensus target price of $45.00, with upgrades from multiple firms, indicating strong confidence in the company's performance.
• The company reported earnings per share (EPS) of $0.61 for the last quarter, exceeding expectations and showing a 14.2% increase in revenue year-over-year.

TriMas Corporation (NASDAQ:TRS - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $38.75 and last traded at $38.73, with a volume of 569456 shares traded. The stock had previously closed at $38.26.

Analysts Set New Price Targets

A number of research firms have issued reports on TRS. Wall Street Zen upgraded TriMas from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. KeyCorp set a $45.00 target price on TriMas and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Finally, BWS Financial reiterated a "buy" rating and issued a $45.00 target price (up previously from $40.00) on shares of TriMas in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $45.00.

TriMas Stock Performance

The company has a market capitalization of $1.57 billion, a P/E ratio of 42.49 and a beta of 0.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.44. The company has a fifty day moving average price of $33.07 and a two-hundred day moving average price of $27.03.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.11. The company had revenue of $274.76 million for the quarter, compared to analysts' expectations of $251.18 million. TriMas had a return on equity of 11.49% and a net margin of 3.83%.The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 earnings per share. TriMas has set its FY 2025 guidance at 1.950-2.100 EPS. Equities analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a $0.04 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.16 annualized dividend and a yield of 0.4%. TriMas's dividend payout ratio is presently 17.58%.

Insider Buying and Selling

In related news, Director Adrianne Shapira bought 4,000 shares of TriMas stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $25.82 per share, for a total transaction of $103,280.00. Following the completion of the acquisition, the director directly owned 8,476 shares of the company's stock, valued at approximately $218,850.32. The trade was a 89.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased 5,266 shares of company stock valued at $137,188 in the last quarter. Corporate insiders own 14.20% of the company's stock.

Institutional Trading of TriMas

Several institutional investors have recently added to or reduced their stakes in TRS. Bank of America Corp DE boosted its holdings in TriMas by 127.3% in the fourth quarter. Bank of America Corp DE now owns 3,513,638 shares of the industrial products company's stock valued at $86,400,000 after acquiring an additional 1,967,738 shares during the last quarter. Irenic Capital Management LP bought a new stake in TriMas in the first quarter valued at approximately $19,997,000. Alta Fox Capital Management LLC bought a new stake in TriMas in the first quarter valued at approximately $17,385,000. Simcoe Capital Management LLC bought a new stake in TriMas in the first quarter valued at approximately $6,451,000. Finally, Ophir Asset Management Pty Ltd acquired a new position in TriMas in the second quarter valued at approximately $7,261,000. 99.42% of the stock is currently owned by 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.