TriMas (NASDAQ:TRS) Shares Gap Down – Here’s Why

Shares of TriMas Co. (NASDAQ:TRS) gapped down prior to trading 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 Ratings Changes

A number of analysts have recently weighed in on TRS shares. BWS Financial reiterated a “buy” rating and set a $40.00 target price on shares of TriMas in a report on Tuesday, November 5th. StockNews.com upgraded TriMas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th.

TriMas Stock Up 1.7 %

The company’s fifty day simple moving average is $25.78 and its 200 day simple moving average is $25.57. The firm has a market capitalization of $938.02 million, a P/E ratio of 36.13 and a beta of 0.67. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.43 earnings per share 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 firm had revenue of $229.36 million for the quarter, compared to the consensus estimate of $239.33 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. Research analysts expect that TriMas Co. will post 1.69 EPS for the current year.

TriMas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, November 5th. TriMas’s dividend payout ratio (DPR) is 25.00%.

Hedge Funds Weigh In On TriMas

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in TriMas by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,461 shares of the industrial products company’s stock valued at $982,000 after purchasing an additional 1,227 shares during the last quarter. Barclays PLC grew its holdings in shares of TriMas by 341.3% during the third quarter. Barclays PLC now owns 68,792 shares of the industrial products company’s stock valued at $1,755,000 after buying an additional 53,203 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of TriMas during the third quarter valued at approximately $371,000. Jane Street Group LLC increased its position in shares of TriMas by 74.4% during the third quarter. Jane Street Group LLC now owns 82,621 shares of the industrial products company’s stock valued at $2,109,000 after acquiring an additional 35,258 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in TriMas by 10.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,619,359 shares of the industrial products company’s stock worth $66,872,000 after acquiring an additional 252,537 shares during the last quarter. 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.