TriMas Corp (TRS) Expected to Post Quarterly Sales of $208.42 Million
Wall Street analysts expect TriMas Corp (NYSE:TRS) to announce $208.42 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for TriMas Corp’s earnings, with estimates ranging from $206.30 million to $212.30 million. TriMas Corp posted sales of $202.29 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3%. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that TriMas Corp will report full year sales of $208.42 million for the current fiscal year, with estimates ranging from $806.10 million to $819.60 million. For the next year, analysts expect that the firm will post sales of $848.11 million per share, with estimates ranging from $825.50 million to $875.01 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover TriMas Corp.
TriMas Corp (NYSE:TRS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. TriMas Corp had a net margin of 6.96% and a return on equity of 11.47%. The company had revenue of $213.39 million during the quarter, compared to the consensus estimate of $205.22 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis.
Several brokerages have issued reports on TRS. BidaskClub raised shares of TriMas Corp from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Seaport Global Securities downgraded shares of TriMas Corp from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Friday, September 15th. JPMorgan Chase & Co. raised shares of TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $24.00 price objective (up previously from $22.00) on shares of TriMas Corp in a research report on Monday, July 31st. Finally, ValuEngine raised shares of TriMas Corp from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.80.
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In other news, Director Nancy Gougarty sold 5,882 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.80, for a total transaction of $145,873.60. Following the completion of the transaction, the director now directly owns 19,293 shares in the company, valued at approximately $478,466.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Swart sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total value of $74,280.00. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in TRS. Acrospire Investment Management LLC boosted its stake in shares of TriMas Corp by 148.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,085 shares of the industrial products company’s stock valued at $106,000 after buying an additional 3,041 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of TriMas Corp by 231.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,742 shares of the industrial products company’s stock valued at $161,000 after buying an additional 5,404 shares during the last quarter. Sei Investments Co. boosted its stake in shares of TriMas Corp by 32.2% during the 2nd quarter. Sei Investments Co. now owns 9,276 shares of the industrial products company’s stock valued at $193,000 after buying an additional 2,259 shares during the last quarter. GW&K Investment Management LLC purchased a new position in shares of TriMas Corp during the 2nd quarter valued at approximately $205,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of TriMas Corp during the 2nd quarter valued at approximately $248,000.
Shares of TriMas Corp (TRS) remained flat at $27.00 on Wednesday. The company had a trading volume of 142,824 shares. The company has a 50-day moving average of $24.42 and a 200-day moving average of $22.31. The stock’s market capitalization is $1.23 billion. TriMas Corp has a 12 month low of $17.26 and a 12 month high of $27.10.
About TriMas Corp
TriMas Corporation is a designer, manufacturer and distributor of engineered products for commercial, industrial and consumer markets. The Company operates through four segments: Packaging, Aerospace, Energy and Engineered Components. The Packaging segment is a designer, manufacturer and distributor of engineered closure and dispensing systems for a range of end markets, including steel and plastic industrial, and consumer packaging applications.
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