TriMas (NASDAQ:TRS) Shares Gap Down Following Weak Earnings

Shares of TriMas Co. (NASDAQ:TRS) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $21.87, but opened at $20.56. TriMas shares last traded at $19.87, with a volume of 48,795 shares changing hands.

The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). TriMas had a net margin of 2.93% and a return on equity of 9.21%.

TriMas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 28th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, February 28th. TriMas’s dividend payout ratio (DPR) is 25.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TRS shares. StockNews.com upgraded shares of TriMas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. BWS Financial reiterated a “buy” rating and issued a $40.00 price target on shares of TriMas in a research note on Thursday, January 23rd.

Institutional Trading of TriMas

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its position in shares of TriMas by 815.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,300 shares of the industrial products company’s stock valued at $32,000 after buying an additional 1,158 shares in the last quarter. State of Wyoming purchased a new stake in shares of TriMas during the 4th quarter valued at about $50,000. KLP Kapitalforvaltning AS purchased a new stake in shares of TriMas during the 4th quarter valued at about $202,000. Intech Investment Management LLC purchased a new stake in shares of TriMas during the 3rd quarter valued at about $269,000. Finally, ProShare Advisors LLC purchased a new stake in shares of TriMas during the 4th quarter valued at about $281,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.

TriMas Price Performance

The firm’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.15. The company has a current ratio of 2.83, a quick ratio of 1.44 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $815.29 million, a PE ratio of 30.97 and a beta of 0.66.

TriMas Company Profile

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.