TriMas (NASDAQ:TRS) Shares Gap Down on Disappointing Earnings

Shares of TriMas Co. (NASDAQ:TRS) gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $27.06, but opened at $26.36. TriMas shares last traded at $26.11, with a volume of 17,817 shares trading hands.

The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). The business had revenue of $229.36 million during the quarter, compared to the consensus estimate of $239.33 million. TriMas had a return on equity of 9.23% and a net margin of 2.93%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

TriMas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. TriMas’s payout ratio is 25.00%.

Analyst Ratings Changes

TRS has been the subject of a number of recent research reports. StockNews.com lowered shares of TriMas from a “hold” rating to a “sell” rating in a report on Tuesday. BWS Financial restated a “buy” rating and issued a $40.00 price objective on shares of TriMas in a report on Tuesday.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in TriMas by 79.8% during the 1st quarter. BNP Paribas Financial Markets now owns 20,225 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 8,978 shares during the period. Quantbot Technologies LP increased its position in TriMas by 5.7% during the 1st quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 478 shares during the period. First Eagle Investment Management LLC increased its position in TriMas by 109.2% during the 1st quarter. First Eagle Investment Management LLC now owns 190,206 shares of the industrial products company’s stock valued at $5,084,000 after purchasing an additional 99,300 shares during the period. Vanguard Group Inc. increased its position in TriMas by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 4,358,524 shares of the industrial products company’s stock valued at $116,503,000 after purchasing an additional 100,068 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in TriMas by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,870 shares of the industrial products company’s stock valued at $639,000 after purchasing an additional 1,478 shares during the period. 99.42% of the stock is owned by hedge funds and other institutional investors.

TriMas Trading Up 5.4 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82. The stock’s 50-day simple moving average is $25.86 and its 200-day simple moving average is $25.82. The firm has a market capitalization of $1.06 billion, a PE ratio of 40.91 and a beta of 0.66.

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.