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

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 traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of TriMas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. BWS Financial restated a “buy” rating and set a $40.00 price objective on shares of TriMas in a research report on Tuesday, November 5th.

TriMas Stock Up 1.7 %

The company has a fifty day moving average of $25.78 and a 200 day moving average of $25.57. The company has a market cap of $938.02 million, a P/E ratio of 36.13 and a beta of 0.67. The company has a quick ratio of 1.44, a current ratio of 2.83 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). TriMas had a return on equity of 9.21% and a net margin of 2.93%. The business had revenue of $229.36 million during the quarter, compared to analysts’ expectations of $239.33 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that TriMas Co. will post 1.69 earnings per share for the current fiscal year.

TriMas Dividend Announcement

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

Hedge Funds Weigh In On TriMas

Several large investors have recently added to or reduced their stakes in TRS. Aristides Capital LLC bought a new stake in shares of TriMas during the 2nd quarter valued at $245,000. Intech Investment Management LLC bought a new stake in TriMas during the third quarter valued at about $269,000. Paloma Partners Management Co bought a new stake in TriMas during the third quarter valued at about $293,000. XTX Topco Ltd purchased a new position in shares of TriMas in the third quarter valued at about $371,000. Finally, Algert Global LLC boosted its stake in shares of TriMas by 4.2% in the second quarter. Algert Global LLC now owns 15,779 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 639 shares during the period. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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.