BidaskClub Upgrades TriMas Corp (NYSE:TRS) to “Hold”
BidaskClub upgraded shares of TriMas Corp (NYSE:TRS) from a sell rating to a hold rating in a report issued on Tuesday, July 11th.
TRS has been the topic of several other reports. ValuEngine raised shares of TriMas Corp from a hold rating to a buy rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of TriMas Corp from a hold rating to a buy rating and set a $23.00 price objective on the stock in a report on Saturday, July 1st. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $22.00 price objective (up from $18.00) on shares of TriMas Corp in a report on Monday, March 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $23.50.
TriMas Corp (TRS) traded down 0.21% during trading on Tuesday, reaching $24.00. The company’s stock had a trading volume of 194,625 shares. The company has a 50-day moving average of $21.77 and a 200 day moving average of $21.74. The firm’s market cap is $1.10 billion. TriMas Corp has a one year low of $17.00 and a one year high of $25.00.
TriMas Corp (NYSE:TRS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. TriMas Corp had a net margin of 3.50% and a return on equity of 5.55%. The business had revenue of $213.39 million for the quarter, compared to analyst estimates of $205.22 million. During the same quarter in the prior year, the business posted $0.34 EPS. TriMas Corp’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts expect that TriMas Corp will post $1.43 EPS for the current fiscal year.
In other news, insider Paul Swart sold 3,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total value of $74,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert J. Zalupski sold 2,200 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $22.00, for a total transaction of $48,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,082 shares of company stock worth $268,554.
Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of TriMas Corp by 0.9% in the first quarter. Wellington Management Group LLP now owns 4,827,588 shares of the industrial products company’s stock worth $100,173,000 after buying an additional 42,072 shares during the period. Vanguard Group Inc. boosted its stake in shares of TriMas Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,647,737 shares of the industrial products company’s stock worth $75,691,000 after buying an additional 164,476 shares during the period. Fiduciary Management Inc. WI boosted its stake in shares of TriMas Corp by 8.7% in the first quarter. Fiduciary Management Inc. WI now owns 2,731,135 shares of the industrial products company’s stock worth $56,671,000 after buying an additional 218,125 shares during the period. Pzena Investment Management LLC boosted its stake in TriMas Corp by 34.9% in the first quarter. Pzena Investment Management LLC now owns 2,708,647 shares of the industrial products company’s stock valued at $56,204,000 after buying an additional 700,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in TriMas Corp by 8.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,641,954 shares of the industrial products company’s stock valued at $54,821,000 after buying an additional 210,804 shares during the last quarter.
About TriMas Corp
TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.
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