TriMas Corp (TRS) Posts Quarterly Earnings Results, Hits Expectations

TriMas Corp (NYSE:TRS) posted its quarterly earnings results on Thursday. The industrial products company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39, Bloomberg Earnings reports. The company had revenue of $209.30 million for the quarter, compared to the consensus estimate of $208.89 million. TriMas Corp had a return on equity of 11.47% and a net margin of 6.96%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. TriMas Corp updated its FY17 guidance to $1.37-1.43 EPS.

TriMas Corp (NYSE:TRS) opened at 27.20 on Friday. TriMas Corp has a 52-week low of $17.26 and a 52-week high of $28.50. The company’s market capitalization is $1.24 billion. The company has a 50-day moving average price of $26.92 and a 200 day moving average price of $23.53.

In related news, insider Paul Swart sold 3,000 shares of TriMas Corp stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $24.76, for a total transaction of $74,280.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nancy Gougarty sold 5,882 shares of TriMas Corp stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $24.80, for a total transaction of $145,873.60. Following 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 analysts recently weighed in on the company. Seaport Global Securities downgraded TriMas Corp from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research note on Friday, September 15th. ValuEngine upgraded TriMas Corp from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded TriMas Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. J P Morgan Chase & Co upgraded 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, BidaskClub downgraded TriMas Corp from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. TriMas Corp presently has an average rating of “Hold” and a consensus price target of $25.25.

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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.

Earnings History for TriMas Corp (NYSE:TRS)

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