TriMas’ (TRS) “Buy” Rating Reaffirmed at BWS Financial

TriMas (NASDAQ:TRS)‘s stock had its “buy” rating reiterated by BWS Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $40.00 price target on the industrial products company’s stock. BWS Financial’s price target indicates a potential upside of 64.88% from the stock’s current price.

TriMas Stock Performance

Shares of NASDAQ TRS traded down $1.12 during midday trading on Wednesday, hitting $24.26. 75,266 shares of the company’s stock were exchanged, compared to its average volume of 213,012. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. TriMas has a 12 month low of $22.59 and a 12 month high of $27.89. The company’s 50 day moving average price is $26.15 and its 200 day moving average price is $25.76. The firm has a market capitalization of $988.11 million, a PE ratio of 25.01 and a beta of 0.67.

TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). TriMas had a net margin of 4.48% and a return on equity of 9.68%. The company had revenue of $240.50 million during the quarter, compared to analyst estimates of $238.63 million. During the same quarter last year, the company posted $0.50 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts predict that TriMas will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Herbert K. Parker purchased 6,100 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $26.52 per share, with a total value of $161,772.00. Following the acquisition, the director now owns 39,157 shares in the company, valued at approximately $1,038,443.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Scott A. Mell sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $27.30, for a total transaction of $40,950.00. Following the completion of the transaction, the chief financial officer now owns 31,923 shares of the company’s stock, valued at $871,497.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herbert K. Parker bought 6,100 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $26.52 per share, for a total transaction of $161,772.00. Following the completion of the acquisition, the director now directly owns 39,157 shares in the company, valued at approximately $1,038,443.64. The disclosure for this purchase can be found here. Insiders bought 13,681 shares of company stock valued at $361,073 over the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRS. Trexquant Investment LP lifted its position in shares of TriMas by 205.6% during the 4th quarter. Trexquant Investment LP now owns 79,610 shares of the industrial products company’s stock valued at $2,017,000 after acquiring an additional 53,556 shares during the period. ARGA Investment Management LP raised its holdings in shares of TriMas by 249.4% during the fourth quarter. ARGA Investment Management LP now owns 47,908 shares of the industrial products company’s stock valued at $1,214,000 after purchasing an additional 34,198 shares during the period. Norges Bank acquired a new position in shares of TriMas during the fourth quarter valued at about $6,767,000. Quadrature Capital Ltd acquired a new position in shares of TriMas during the fourth quarter valued at about $1,102,000. Finally, Evoke Wealth LLC acquired a new position in TriMas during the 4th quarter worth approximately $1,471,000. 99.42% of the stock is owned by institutional investors and hedge funds.

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.