BidaskClub upgraded shares of TriMas Corp (NYSE:TRS) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
TRS has been the subject of a number of other research reports. Jefferies Group LLC restated a hold rating and issued a $24.00 target price (up previously from $22.00) on shares of TriMas Corp in a research report on Monday, July 31st. ValuEngine upgraded TriMas Corp from a hold rating to a buy rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded TriMas Corp from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Saturday, July 1st. Finally, J P Morgan Chase & Co upgraded TriMas Corp from a neutral rating to an overweight rating and set a $27.00 target price for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. TriMas Corp has an average rating of Hold and an average price target of $24.25.
TriMas Corp (NYSE TRS) opened at 23.90 on Wednesday. The company’s 50-day moving average price is $23.22 and its 200 day moving average price is $22.03. TriMas Corp has a 52 week low of $17.00 and a 52 week high of $25.00. The stock’s market capitalization is $1.09 billion.
TriMas Corp (NYSE:TRS) last released its earnings results on Thursday, July 27th. The industrial products company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. The company had revenue of $213.39 million during the quarter, compared to the consensus estimate of $205.22 million. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. TriMas Corp’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. Equities research analysts expect that TriMas Corp will post $1.43 EPS for the current fiscal year.
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In other TriMas Corp news, insider Paul Swart sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.76, for a total value of $74,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nancy Gougarty sold 5,882 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $24.80, for a total value of $145,873.60. Following the completion of the sale, the director now owns 19,293 shares of the company’s stock, valued at approximately $478,466.40. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its stake in shares of TriMas Corp by 148.8% in the second 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 increased its position in shares of TriMas Corp by 231.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,742 shares of the industrial products company’s stock worth $161,000 after buying an additional 5,404 shares in the last quarter. Sei Investments Co. increased its position in shares of TriMas Corp by 32.2% in the second quarter. Sei Investments Co. now owns 9,276 shares of the industrial products company’s stock worth $193,000 after buying an additional 2,259 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of TriMas Corp during the second quarter worth approximately $205,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of TriMas Corp during the second quarter worth approximately $248,000.
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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