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

Shares of TriMas Co. (NASDAQ:TRS - Get Free Report) gapped up prior to trading 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 traded.

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

Analyst Upgrades and Downgrades

Several research firms have commented on TRS. BWS Financial reiterated a "buy" rating and issued a $40.00 price objective on shares of TriMas in a research note on Wednesday, April 30th. Wall Street Zen lowered TriMas from a "buy" rating to a "hold" rating in a report on Saturday.

TriMas Trading Up 4.5%

The firm has a fifty day moving average of $23.01 and a two-hundred day moving average of $24.01. The company has a market cap of $1.08 billion, a PE ratio of 41.50 and a beta of 0.58. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60.

TriMas (NASDAQ:TRS - Get Free Report) last announced its quarterly earnings results 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. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The company had revenue of $241.67 million for the quarter, compared to analysts' expectations of $235.41 million. During the same period in the prior year, the company posted $0.37 EPS. TriMas's revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that TriMas Co. will post 1.69 EPS for the current year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. TriMas's dividend payout ratio (DPR) is 20.78%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TRS. Sterling Capital Management LLC increased its position in shares of TriMas by 815.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company's stock valued at $32,000 after buying an additional 1,158 shares during the period. State of Wyoming bought a new stake in TriMas during the 4th quarter worth approximately $50,000. KLP Kapitalforvaltning AS purchased a new stake in TriMas in the 4th quarter worth approximately $202,000. Comerica Bank boosted its holdings in TriMas by 214.5% in the 1st quarter. Comerica Bank now owns 11,119 shares of the industrial products company's stock valued at $261,000 after purchasing an additional 7,584 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of TriMas during the 4th quarter valued at $281,000. 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.