TriMas Corp to Post FY2018 Earnings of $1.74 Per Share, KeyCorp Forecasts (TRS)

TriMas Corp (NASDAQ:TRS) – Research analysts at KeyCorp lifted their FY2018 EPS estimates for shares of TriMas in a note issued to investors on Thursday. KeyCorp analyst S. Barger now anticipates that the industrial products company will earn $1.74 per share for the year, up from their previous forecast of $1.54.

TriMas (NASDAQ:TRS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $209.30 million during the quarter, compared to the consensus estimate of $208.89 million. TriMas had a negative net margin of 4.01% and a positive return on equity of 12.18%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share.

Several other brokerages have also recently commented on TRS. BidaskClub raised shares of TriMas from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 27th. Zacks Investment Research cut shares of TriMas from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. ValuEngine raised shares of TriMas from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Deutsche Bank set a $29.00 target price on shares of TriMas and gave the stock a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $26.00.

Shares of TriMas (NASDAQ:TRS) opened at $27.35 on Monday. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1,250.47, a P/E ratio of -37.99, a price-to-earnings-growth ratio of 3.42 and a beta of 2.06. TriMas has a 1 year low of $19.75 and a 1 year high of $28.85.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in TriMas by 2.9% in the second quarter. Vanguard Group Inc. now owns 3,753,870 shares of the industrial products company’s stock valued at $78,268,000 after acquiring an additional 106,133 shares during the last quarter. Fiduciary Management Inc. WI boosted its position in TriMas by 4.9% in the third quarter. Fiduciary Management Inc. WI now owns 2,879,901 shares of the industrial products company’s stock valued at $77,757,000 after buying an additional 134,255 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in TriMas in the third quarter valued at approximately $42,807,000. State Street Corp boosted its position in TriMas by 6.7% in the second quarter. State Street Corp now owns 904,136 shares of the industrial products company’s stock valued at $18,849,000 after buying an additional 56,764 shares in the last quarter. Finally, Royce & Associates LP boosted its position in TriMas by 14.8% in the third quarter. Royce & Associates LP now owns 596,572 shares of the industrial products company’s stock valued at $16,107,000 after buying an additional 77,000 shares in the last quarter. 97.66% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Joshua A. Sherbin sold 13,828 shares of TriMas stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $25.50, for a total value of $352,614.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Swart sold 1,500 shares of TriMas stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $26.57, for a total transaction of $39,855.00. The disclosure for this sale can be found here. Insiders have sold 18,944 shares of company stock worth $486,796 over the last ninety days. Insiders own 1.40% of the company’s stock.

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About TriMas

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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