TriMas (NASDAQ:TRS) Sees Large Volume Increase – Here’s Why

Shares of TriMas Corporation (NASDAQ:TRS) saw unusually-strong trading volume on Tuesday . Approximately 1,868,865 shares changed hands during mid-day trading, an increase of 308% from the previous session’s volume of 458,417 shares.The stock last traded at $31.8160 and had previously closed at $31.44.

Analysts Set New Price Targets

TRS has been the subject of several recent research reports. BWS Financial reiterated a “buy” rating and set a $45.00 price target on shares of TriMas in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TriMas in a report on Monday. Zacks Research upgraded shares of TriMas from a “hold” rating to a “strong-buy” rating in a report on Friday, August 29th. Finally, KeyCorp dropped their price target on shares of TriMas from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $41.50.

TriMas Price Performance

The stock has a market cap of $1.29 billion, a P/E ratio of 29.45 and a beta of 0.64. The business has a 50 day simple moving average of $36.75 and a 200-day simple moving average of $32.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.44 and a current ratio of 2.68.

TriMas (NASDAQ:TRS) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $269.26 million for the quarter, compared to the consensus estimate of $262.05 million. TriMas had a net margin of 4.35% and a return on equity of 12.39%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. TriMas has set its FY 2025 guidance at 2.020-2.120 EPS. On average, sell-side analysts forecast that TriMas Corporation will post 1.69 EPS for the current year.

TriMas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 6th. TriMas’s dividend payout ratio is currently 14.81%.

Insider Activity at TriMas

In related news, Director Jeffrey A. Fielkow purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $31.46 per share, with a total value of $62,920.00. Following the acquisition, the director owned 17,653 shares of the company’s stock, valued at $555,363.38. This trade represents a 12.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 14.20% of the company’s stock.

Institutional Trading of TriMas

Several hedge funds have recently made changes to their positions in TRS. Quarry LP purchased a new position in shares of TriMas during the 3rd quarter valued at $36,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TriMas in the third quarter valued at approximately $48,000. State of Alaska Department of Revenue purchased a new stake in shares of TriMas during the 3rd quarter valued at approximately $65,000. State of Wyoming bought a new position in TriMas in the 2nd quarter worth approximately $65,000. Finally, BNP Paribas Financial Markets boosted its holdings in TriMas by 35.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,319 shares of the industrial products company’s stock worth $95,000 after buying an additional 868 shares during the period. 99.42% of the stock is currently owned by institutional investors.

About TriMas

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.