TriMas (NASDAQ:TRS) Shares Gap Up - Here's Why

TriMas Co. (NASDAQ:TRS - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $25.61, but opened at $26.29. TriMas shares last traded at $25.93, with a volume of 24,888 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on TRS. StockNews.com raised TriMas from a "sell" rating to a "hold" rating in a research report on Wednesday, November 13th. BWS Financial reissued a "buy" rating and issued a $40.00 target price on shares of TriMas in a research note on Tuesday, November 5th.

TriMas Stock Performance

The business's 50 day simple moving average is $26.17 and its two-hundred day simple moving average is $25.85. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.06 billion, a P/E ratio of 40.64 and a beta of 0.66.

TriMas (NASDAQ:TRS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.14). TriMas had a net margin of 2.93% and a return on equity of 9.21%. The business had revenue of $229.36 million during the quarter, compared to the consensus estimate of $239.33 million. During the same period last year, the company posted $0.57 earnings per share. The business's revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that TriMas Co. will post 1.74 EPS for the current fiscal year.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Tuesday, November 5th. TriMas's payout ratio is presently 25.00%.

Institutional Investors Weigh In On TriMas

A number of large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in TriMas during the second quarter valued at approximately $26,000. Aristides Capital LLC purchased a new position in shares of TriMas during the 2nd quarter worth $245,000. Intech Investment Management LLC purchased a new position in shares of TriMas during the 3rd quarter worth $269,000. Paloma Partners Management Co bought a new stake in shares of TriMas during the 3rd quarter valued at $293,000. Finally, XTX Topco Ltd purchased a new stake in shares of TriMas in the 3rd quarter worth $371,000. 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.