TriMas (NASDAQ:TRS) Shares Gap Down - Here's What Happened

TriMas Co. (NASDAQ:TRS - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $27.06, but opened at $26.36. TriMas shares last traded at $26.11, with a volume of 17,817 shares.

Analysts Set New Price Targets

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

TriMas Stock Down 8.1 %

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 27.17 and a beta of 0.66. 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 firm has a fifty day moving average price of $25.83 and a 200-day moving average price of $25.82.

TriMas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, November 5th. TriMas's dividend payout ratio (DPR) is 16.33%.

Institutional Investors Weigh In On TriMas

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of TriMas during the 2nd quarter valued at $26,000. Quantbot Technologies LP grew its position in TriMas by 5.7% during the first quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company's stock valued at $239,000 after acquiring an additional 478 shares during the period. Aristides Capital LLC acquired a new stake in TriMas during the second quarter worth about $245,000. Algert Global LLC raised its holdings in shares of TriMas by 4.2% in the 2nd quarter. Algert Global LLC now owns 15,779 shares of the industrial products company's stock worth $403,000 after purchasing an additional 639 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of TriMas by 17.4% in the 3rd quarter. Inspire Investing LLC now owns 16,155 shares of the industrial products company's stock valued at $412,000 after purchasing an additional 2,389 shares in the last quarter. 99.42% of the stock is currently owned by hedge funds and other 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.