TriMas (NASDAQ:TRS) Shares Gap Up After Insider Buying Activity

TriMas Co. (NASDAQ:TRS - Get Free Report)'s share price gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $25.65, but opened at $26.34. TriMas shares last traded at $25.83, with a volume of 33,976 shares trading hands.

Specifically, Director Shawn Sedaghat purchased 104,957 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average price of $25.70 per share, for a total transaction of $2,697,394.90. Following the completion of the acquisition, the director now directly owns 1,400,649 shares in the company, valued at $35,996,679.30. This represents a 8.10% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shawn Sedaghat acquired 254,400 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average cost of $25.39 per share, for a total transaction of $6,459,216.00. Following the completion of the transaction, the director now directly owns 1,295,692 shares in the company, valued at $32,897,619.88. This represents a 24.43% increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a "buy" rating and issued a $40.00 target price on shares of TriMas in a report on Wednesday, April 30th.

TriMas Price Performance

The firm has a fifty day moving average of $22.98 and a 200 day moving average of $24.06. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.06 billion, a P/E ratio of 40.39 and a beta of 0.58.

TriMas (NASDAQ:TRS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The firm had revenue of $241.67 million for the quarter, compared to the consensus estimate of $235.41 million. During the same quarter last year, the firm posted $0.37 EPS. The business's quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that TriMas Co. will post 1.69 EPS for the current year.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.16 annualized dividend and a yield of 0.62%. TriMas's payout ratio is presently 20.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in TriMas by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,106 shares of the industrial products company's stock valued at $568,000 after purchasing an additional 834 shares in the last quarter. Sterling Capital Management LLC boosted its stake 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. JPMorgan Chase & Co. grew its stake in TriMas by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company's stock valued at $982,000 after acquiring an additional 1,227 shares in the last quarter. MetLife Investment Management LLC increased its holdings 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 valued at $610,000 after acquiring an additional 1,378 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 in the last quarter. 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.

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