TriMas (TRS) Upgraded to Buy by ValuEngine

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ValuEngine upgraded shares of TriMas (NASDAQ:TRS) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other brokerages also recently weighed in on TRS. BMO Capital Markets reaffirmed a buy rating and issued a $35.00 target price on shares of TriMas in a research note on Friday, September 21st. BidaskClub downgraded shares of TriMas from a buy rating to a hold rating in a research note on Thursday, September 27th. JPMorgan Chase & Co. downgraded shares of TriMas from an overweight rating to a neutral rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research raised shares of TriMas from a sell rating to a hold rating in a research note on Thursday, July 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. TriMas currently has a consensus rating of Hold and a consensus target price of $31.75.

Shares of NASDAQ TRS traded up $0.12 during trading on Wednesday, reaching $29.57. The company had a trading volume of 1,065 shares, compared to its average volume of 155,048. TriMas has a 52 week low of $22.70 and a 52 week high of $31.80. The company has a market cap of $1.37 billion, a PE ratio of 21.04, a P/E/G ratio of 3.44 and a beta of 1.93. The company has a current ratio of 2.81, a quick ratio of 1.53 and a debt-to-equity ratio of 0.50.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. TriMas had a net margin of 7.27% and a return on equity of 13.79%. The company had revenue of $223.78 million during the quarter, compared to the consensus estimate of $218.65 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that TriMas will post 1.74 earnings per share for the current year.

In related news, CFO Robert J. Zalupski sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $31.08, for a total transaction of $155,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mawer Investment Management Ltd. bought a new stake in TriMas in the second quarter valued at approximately $5,246,000. BlackRock Inc. boosted its holdings in TriMas by 4.3% during the second quarter. BlackRock Inc. now owns 3,019,119 shares of the industrial products company’s stock worth $88,761,000 after purchasing an additional 124,442 shares during the last quarter. United Services Automobile Association boosted its holdings in TriMas by 17.4% during the second quarter. United Services Automobile Association now owns 733,022 shares of the industrial products company’s stock worth $21,551,000 after purchasing an additional 108,880 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in TriMas by 14.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 743,411 shares of the industrial products company’s stock worth $21,857,000 after purchasing an additional 96,410 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in TriMas by 503.1% during the first quarter. Millennium Management LLC now owns 105,924 shares of the industrial products company’s stock worth $2,781,000 after purchasing an additional 88,360 shares during the last quarter. 98.20% of the stock is owned by institutional investors and hedge funds.

About TriMas

TriMas Corporation manufactures and sells products for consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas markets worldwide. The company operates through four segments: Packaging, Aerospace, Energy, and Engineered Components. The Packaging segment designs and manufactures industrial closure products, including steel drum and plastic enclosures, plastic drum closures, and plastic pail dispensers and plugs; and specialty dispensing products, such as foamers, lotion pumps, fine mist sprayers, and other packaging solutions for the cosmetic, personal care, and household product markets, as well as specialty plastic closures for bottles and jars, and dispensing pumps for the food and beverage markets.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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