TriMas Corp (NYSE:TRS) was downgraded by stock analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. They currently have a $27.00 target price on the industrial products company’s stock. Seaport Global Securities’ price objective indicates a potential upside of 2.47% from the stock’s previous close. Seaport Global Securities also issued estimates for TriMas Corp’s Q4 2017 earnings at $0.29 EPS and Q4 2018 earnings at $0.32 EPS.
Several other research firms also recently commented on TRS. BidaskClub downgraded shares of TriMas Corp from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. ValuEngine downgraded shares of TriMas Corp from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Zacks Investment Research downgraded shares of TriMas Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. J P Morgan Chase & Co raised shares of TriMas Corp from a “neutral” rating to an “overweight” rating and set a $27.00 price target on the stock in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $24.00 price target (up from $22.00) on shares of TriMas Corp in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. TriMas Corp has a consensus rating of “Hold” and an average target price of $24.80.
Shares of TriMas Corp (NYSE:TRS) opened at 26.35 on Friday. TriMas Corp has a 12-month low of $17.26 and a 12-month high of $27.00. The company’s market capitalization is $1.20 billion. The firm’s 50-day moving average is $24.37 and its 200-day moving average is $22.27.
TriMas Corp (NYSE:TRS) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $213.39 million for the quarter, compared to the consensus estimate of $205.22 million. TriMas Corp had a net margin of 6.96% and a return on equity of 11.47%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. On average, equities analysts predict that TriMas Corp will post $1.43 EPS for the current year.
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In related news, insider Paul Swart sold 3,000 shares of TriMas Corp stock in a transaction on Tuesday, August 1st. The shares were 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 SEC, which is available through this hyperlink. Also, Director Nancy Gougarty sold 5,882 shares of TriMas Corp stock in a transaction 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 $478,466.40. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently modified their holdings of TRS. Royce & Associates LP increased its stake in shares of TriMas Corp by 372.3% in the second quarter. Royce & Associates LP now owns 519,572 shares of the industrial products company’s stock worth $10,833,000 after buying an additional 409,572 shares during the period. Thrivent Financial For Lutherans purchased a new position in shares of TriMas Corp in the second quarter worth $6,643,000. Fiduciary Management Inc. WI increased its stake in shares of TriMas Corp by 8.7% in the first quarter. Fiduciary Management Inc. WI now owns 2,731,135 shares of the industrial products company’s stock worth $56,671,000 after buying an additional 218,125 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TriMas Corp by 8.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,641,954 shares of the industrial products company’s stock worth $54,821,000 after buying an additional 210,804 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of TriMas Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,647,737 shares of the industrial products company’s stock worth $75,691,000 after buying an additional 164,476 shares during the period.
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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