TriMas (NASDAQ:TRS) Sets New 1-Year High - Here's Why

TriMas Co. (NASDAQ:TRS - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.50 and last traded at $28.38, with a volume of 6754 shares changing hands. The stock had previously closed at $28.32.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a "buy" rating and issued a $40.00 price objective on shares of TriMas in a report on Wednesday, October 9th.

TriMas Stock Performance

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 28.53 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $25.25 and a 200 day moving average price of $25.73.

TriMas (NASDAQ:TRS - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.10). The business had revenue of $240.50 million for the quarter, compared to analysts' expectations of $238.63 million. TriMas had a return on equity of 9.61% and a net margin of 4.44%. TriMas's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, analysts forecast that TriMas Co. will post 1.75 EPS for the current year.

TriMas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, August 6th. TriMas's dividend payout ratio is currently 16.33%.

Institutional Investors Weigh In On TriMas

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of TriMas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,145,236 shares of the industrial products company's stock worth $80,298,000 after purchasing an additional 51,701 shares during the last quarter. Inspire Investing LLC raised its stake in shares of TriMas by 17.4% during the third quarter. Inspire Investing LLC now owns 16,155 shares of the industrial products company's stock worth $412,000 after purchasing an additional 2,389 shares during the last quarter. Aristides Capital LLC acquired a new position in TriMas during the second quarter worth $245,000. Creative Planning grew its holdings in TriMas by 11.0% during the second quarter. Creative Planning now owns 27,056 shares of the industrial products company's stock worth $692,000 after acquiring an additional 2,681 shares during the period. Finally, Algert Global LLC grew its holdings in TriMas by 4.2% during the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company's stock worth $403,000 after acquiring an additional 639 shares during the period. Hedge funds and other 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.