TriMas (NASDAQ:TRS) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

TriMas Corporation (NASDAQ:TRS) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.07 and traded as low as $35.48. TriMas shares last traded at $35.94, with a volume of 720,925 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRS. Wall Street Zen cut shares of TriMas from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. BWS Financial reaffirmed a “buy” rating and set a $45.00 price target on shares of TriMas in a research report on Monday, March 2nd. Weiss Ratings upgraded TriMas from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, March 16th. Zacks Research lowered TriMas from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Finally, KeyCorp reissued an “overweight” rating and issued a $38.00 price objective on shares of TriMas in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

TriMas Trading Up 1.1%

The company has a quick ratio of 1.93, a current ratio of 2.52 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.35 billion, a P/E ratio of 12.10 and a beta of 0.55. The firm’s 50 day simple moving average is $36.07 and its two-hundred day simple moving average is $35.70.

TriMas (NASDAQ:TRS) last released its quarterly earnings data on Thursday, February 26th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The company had revenue of ($139.97) million for the quarter, compared to the consensus estimate of $192.96 million. TriMas had a return on equity of 12.04% and a net margin of 11.53%.TriMas’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. As a group, analysts forecast that TriMas Corporation will post 1.69 earnings per share for the current fiscal year.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 27th were issued a $0.04 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.16 annualized dividend and a yield of 0.4%. TriMas’s dividend payout ratio is presently 5.39%.

Institutional Investors Weigh In On TriMas

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of TriMas by 4.1% during the third quarter. Bank of America Corp DE now owns 3,810,233 shares of the industrial products company’s stock worth $147,227,000 after purchasing an additional 150,232 shares during the period. Capital International Investors acquired a new stake in TriMas in the 3rd quarter valued at $111,673,000. Allspring Global Investments Holdings LLC increased its stake in TriMas by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,562,028 shares of the industrial products company’s stock valued at $92,976,000 after purchasing an additional 73,638 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in TriMas during the 4th quarter valued at $55,036,000. Finally, Advisory Research Inc. raised its holdings in TriMas by 46.0% during the fourth quarter. Advisory Research Inc. now owns 1,096,013 shares of the industrial products company’s stock worth $38,854,000 after buying an additional 345,425 shares during the last quarter. Institutional investors own 99.42% of the company’s stock.

TriMas Company Profile

TriMas Corporation is a diversified industrial company headquartered in Bloomfield Hills, Michigan. Established in 1980, TriMas has built a global reputation for designing and manufacturing specialized products that serve a wide array of end markets. The company operates through multiple segments, each focused on high-demand niches where engineered solutions and rigorous quality standards are essential.

The Packaging segment supplies closures, dispensing systems and related components for the personal care, household chemicals, food and beverage, and pharmaceutical markets.