TriMas (NASDAQ:TRS) Shares Gap Down – Here’s Why

TriMas Co. (NASDAQ:TRS) shares gapped down before the market opened on Monday . The stock had previously closed at $23.98, but opened at $23.17. TriMas shares last traded at $23.16, with a volume of 16,028 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on TRS. BWS Financial restated a “buy” rating and issued a $40.00 price objective on shares of TriMas in a report on Tuesday, November 5th. StockNews.com upgraded TriMas from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th.

TriMas Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.83 and a quick ratio of 1.44. The firm has a fifty day moving average of $25.95 and a two-hundred day moving average of $25.61. The stock has a market capitalization of $932.75 million, a P/E ratio of 35.92 and a beta of 0.67.

TriMas (NASDAQ:TRS) last announced its earnings results on Monday, November 4th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). The firm had revenue of $229.36 million during the quarter, compared to the consensus estimate of $239.33 million. TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, analysts predict that TriMas Co. will post 1.69 EPS for the current year.

TriMas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.70%. TriMas’s dividend payout ratio is presently 25.00%.

Hedge Funds Weigh In On TriMas

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in TriMas by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock worth $982,000 after purchasing an additional 1,227 shares in the last quarter. Barclays PLC increased its holdings in shares of TriMas by 341.3% during the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock valued at $1,755,000 after acquiring an additional 53,203 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of TriMas during the third quarter valued at about $371,000. Jane Street Group LLC increased its holdings in shares of TriMas by 74.4% during the third quarter. Jane Street Group LLC now owns 82,621 shares of the industrial products company’s stock valued at $2,109,000 after acquiring an additional 35,258 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of TriMas by 10.7% during the third quarter. Wellington Management Group LLP now owns 2,619,359 shares of the industrial products company’s stock valued at $66,872,000 after acquiring an additional 252,537 shares in the last quarter. 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.