TriMas (NASDAQ:TRS) Shares Gap Up on Earnings Beat

Shares of TriMas Co. (NASDAQ:TRS) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.99, but opened at $24.45. TriMas shares last traded at $23.26, with a volume of 53,027 shares changing hands.

The industrial products company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $241.67 million during the quarter, compared to the consensus estimate of $235.41 million. TriMas had a net margin of 2.93% and a return on equity of 9.21%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS.

TriMas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 6th. TriMas’s dividend payout ratio (DPR) is 27.12%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and issued a $40.00 target price on shares of TriMas in a report on Friday, February 28th.

Insider Transactions at TriMas

In other TriMas news, CFO Scott A. Mell sold 2,218 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.54, for a total value of $49,993.72. Following the transaction, the chief financial officer now directly owns 26,288 shares in the company, valued at $592,531.52. This represents a 7.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Fielkow purchased 2,500 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $20.78 per share, with a total value of $51,950.00. Following the purchase, the director now directly owns 11,013 shares of the company’s stock, valued at approximately $228,850.14. This represents a 29.37 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 806,246 shares of company stock worth $19,338,213. 14.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TriMas

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake 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 purchased a new position in TriMas during the 4th quarter valued at about $50,000. KLP Kapitalforvaltning AS purchased a new position in TriMas during the 4th quarter valued at about $202,000. ProShare Advisors LLC bought a new stake in shares of TriMas in the 4th quarter valued at about $281,000. Finally, Quantbot Technologies LP lifted its position in shares of TriMas by 203.5% in the 4th quarter. Quantbot Technologies LP now owns 11,978 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 8,031 shares during the period. 99.42% of the stock is owned by institutional investors.

TriMas Trading Up 12.3 %

The stock has a market capitalization of $960.08 million, a P/E ratio of 36.84 and a beta of 0.55. The stock’s 50 day moving average price is $22.35 and its 200-day moving average price is $24.35. The company has a quick ratio of 1.44, a current ratio of 2.83 and a debt-to-equity ratio of 0.60.

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.