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.

Analyst Upgrades and Downgrades

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

TriMas Stock Down 4.1 %

The stock has a market cap of $932.75 million, a PE ratio of 35.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.44 and a current ratio of 2.83. The company’s 50-day moving average price is $25.95 and its 200 day moving average price is $25.61.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.43 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 for the quarter, compared to analysts’ expectations of $239.33 million. During the same period in the previous year, the company earned $0.57 EPS. TriMas’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts forecast that TriMas Co. will post 1.69 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, November 5th. TriMas’s payout ratio is currently 25.00%.

Institutional Investors Weigh In On TriMas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aristides Capital LLC purchased a new stake in TriMas in the 2nd quarter worth approximately $245,000. Intech Investment Management LLC bought a new position in shares of TriMas during the 3rd quarter valued at approximately $269,000. Paloma Partners Management Co bought a new stake in TriMas in the third quarter worth $293,000. XTX Topco Ltd bought a new stake in shares of TriMas during the third quarter worth $371,000. Finally, Algert Global LLC boosted its stake in shares of TriMas by 4.2% during the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 639 shares during the period. 99.42% of the stock is 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.