TriMas Corp (NYSE:TRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.
According to Zacks, “TriMas expects full-year 2017 earnings per share to lie in the range of $1.35–$1.45. The company will continue to assess product and facility performance under the new TriMas business model. Further, it will benefit from focus on performance improvement plans in the Energy and Aerospace segments. Expanding global capabilities, product development and stability in order patterns will also drive growth. However, TriMas’ results will be impacted by currency volatility and uncertainty in the broader macroeconomic environment. Lower oil prices and soft demand may also put pressure on the company’s performance. Moreover, the stock has underperformed the Zacks categorized sub-industry for the past one year.”
TRS has been the topic of several other reports. ValuEngine raised TriMas Corp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded TriMas Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “hold” rating and set a $22.00 target price (up from $18.00) on shares of TriMas Corp in a research note on Monday, March 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $24.25.
TriMas Corp (NYSE:TRS) remained flat at $23.90 on Thursday. The company’s stock had a trading volume of 225,446 shares. The stock’s 50 day moving average price is $22.29 and its 200-day moving average price is $21.85. The stock’s market cap is $1.09 billion. TriMas Corp has a 1-year low of $17.00 and a 1-year high of $25.00.
TriMas Corp (NYSE:TRS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The company had revenue of $213.39 million for the quarter, compared to analyst estimates of $205.22 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that TriMas Corp will post $1.43 earnings per share for the current year.
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In other TriMas Corp news, insider Paul Swart sold 3,000 shares of TriMas Corp 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 can be accessed through this hyperlink. Also, CFO Robert J. Zalupski sold 2,200 shares of TriMas Corp stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $22.00, for a total value of $48,400.00. The disclosure for this sale can be found here. Insiders have sold 11,082 shares of company stock valued at $268,554 over the last 90 days.
Institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its position in shares of TriMas Corp by 2.2% in the second quarter. Parametric Portfolio Associates LLC now owns 100,021 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 2,159 shares during the last quarter. California Public Employees Retirement System increased its position in shares of TriMas Corp by 2.2% in the second quarter. California Public Employees Retirement System now owns 203,000 shares of the industrial products company’s stock worth $4,233,000 after buying an additional 4,400 shares during the last quarter. Vanguard Group Inc. increased its position in shares of TriMas Corp by 2.9% in the second quarter. Vanguard Group Inc. now owns 3,753,870 shares of the industrial products company’s stock worth $78,268,000 after buying an additional 106,133 shares during the last quarter. Northern Trust Corp increased its position in shares of TriMas Corp by 4.6% in the second quarter. Northern Trust Corp now owns 570,940 shares of the industrial products company’s stock worth $11,905,000 after buying an additional 24,883 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of TriMas Corp by 225.8% in the second quarter. GSA Capital Partners LLP now owns 67,377 shares of the industrial products company’s stock worth $1,405,000 after buying an additional 46,698 shares during the last quarter.
TriMas Corp Company Profile
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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