TriMas (NASDAQ:TRS) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of TriMas (NASDAQ:TRS) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other equities analysts have also commented on TRS. Weiss Ratings reiterated a “hold (c+)” rating on shares of TriMas in a research report on Monday. KeyCorp lowered their price objective on TriMas from $45.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. BWS Financial reiterated a “buy” rating and issued a $45.00 target price on shares of TriMas in a research note on Friday, December 5th. Finally, Wall Street Zen downgraded shares of TriMas from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TriMas has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

TriMas Stock Performance

Shares of TRS opened at $33.91 on Thursday. The stock has a market capitalization of $1.38 billion, a PE ratio of 31.40 and a beta of 0.62. The business’s fifty day moving average price is $34.67 and its 200 day moving average price is $33.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.42. TriMas has a 12-month low of $19.33 and a 12-month high of $40.34.

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

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, November 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 6th. TriMas’s dividend payout ratio is presently 14.81%.

Insider Activity

In other TriMas news, Director Jeffrey A. Fielkow bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average cost of $31.46 per share, for a total transaction of $62,920.00. Following the acquisition, the director directly owned 17,653 shares of the company’s stock, valued at $555,363.38. This trade represents a 12.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 14.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TriMas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings 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 valued at $147,227,000 after purchasing an additional 150,232 shares during the last quarter. Capital International Investors purchased a new position in shares of TriMas in the third quarter worth approximately $111,673,000. Pzena Investment Management LLC raised its holdings in shares of TriMas by 2.0% during the second quarter. Pzena Investment Management LLC now owns 2,177,761 shares of the industrial products company’s stock valued at $62,306,000 after acquiring an additional 42,207 shares during the period. Irenic Capital Management LP purchased a new stake in shares of TriMas in the 1st quarter valued at approximately $19,997,000. Finally, Kennedy Capital Management LLC boosted its stake in TriMas by 0.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 778,979 shares of the industrial products company’s stock worth $30,100,000 after purchasing an additional 7,074 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.

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.