TriMas Corp (NYSE:TRS) – Equities researchers at William Blair increased their FY2018 earnings per share estimates for shares of TriMas Corp in a research note issued to investors on Thursday. William Blair analyst N. Heymann now forecasts that the industrial products company will post earnings per share of $1.70 for the year, up from their prior estimate of $1.55.
A number of other research analysts also recently weighed in on the company. Jefferies Group LLC reissued a “hold” rating and issued a $24.00 price objective (up from $22.00) on shares of TriMas Corp in a research note on Monday. ValuEngine raised TriMas Corp from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub downgraded TriMas Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research downgraded TriMas Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. TriMas Corp presently has an average rating of “Hold” and an average price target of $23.50.
Shares of TriMas Corp (NYSE TRS) traded up 1.64% during mid-day trading on Monday, reaching $24.75. 226,581 shares of the company’s stock traded hands. TriMas Corp has a 1-year low of $17.00 and a 1-year high of $25.00. The company’s market capitalization is $1.13 billion. The firm has a 50-day moving average price of $21.70 and a 200-day moving average price of $21.73.
TriMas Corp (NYSE:TRS) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. TriMas Corp had a net margin of 3.50% and a return on equity of 5.55%. The company had revenue of $213.39 million during the quarter, compared to the consensus estimate of $205.22 million. During the same quarter last year, the company earned $0.34 earnings per share. TriMas Corp’s revenue for the quarter was up 5.0% on a year-over-year basis.
In related news, insider Thomas A. Amato acquired 1,700 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average cost of $22.75 per share, with a total value of $38,675.00. Following the purchase, the insider now owns 57,379 shares of the company’s stock, valued at $1,305,372.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert J. Zalupski sold 2,200 shares of the firm’s 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.
Several hedge funds and other institutional investors have recently modified their holdings of TRS. 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 valued at $193,000 after buying an additional 2,259 shares in the last quarter. NGAM Advisors L.P. increased its position in shares of TriMas Corp by 229.6% in the second quarter. NGAM Advisors L.P. now owns 51,275 shares of the industrial products company’s stock valued at $1,069,000 after buying an additional 35,716 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of TriMas Corp during the second quarter valued at approximately $205,000. CNA Financial Corp increased its position in shares of TriMas Corp by 34.7% in the first quarter. CNA Financial Corp now owns 76,937 shares of the industrial products company’s stock valued at $1,596,000 after buying an additional 19,805 shares in the last quarter. Finally, Credit Suisse AG increased its position in shares of TriMas Corp by 12.4% in the first quarter. Credit Suisse AG now owns 48,151 shares of the industrial products company’s stock valued at $999,000 after buying an additional 5,315 shares in the last quarter.
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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