| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 3/6 |
| Past Performance | 3/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
TRS Stock Overview
TriMas Corporation designs, develops, manufactures, and sells products for consumer products, aerospace, and industrial markets worldwide.
TriMas Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$25.07 |
| 52 Week High | US$38.72 |
| 52 Week Low | US$23.85 |
| Beta | 0.71 |
| 1 Month Change | -6.73% |
| 3 Month Change | -10.30% |
| 1 Year Change | -22.77% |
| 3 Year Change | -15.10% |
| 5 Year Change | -10.30% |
| Change since IPO | 113.36% |
Recent News & Updates
TriMas (NASDAQ:TRS) Has A Somewhat Strained Balance Sheet
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
TriMas: This Supplier Has Big Upside
Strong performance despite macro headwinds. Value is relatively attractive given projections for future performance. Steady top line growth and a return to bottom line growth to come following acquisitions and improved efficiencies. A healthy balance sheet. While it would seem for now that the macro picture is getting clearer with GDP contracting two quarters in a row (mild recession), consumer sentiment weakening based on all of the earnings reports our team has scoured, and the Fed possibly slowing its pace of hikes, markets are finding some footing that last few weeks. That said, we are not out of the woods yet. The best trades right now have been the ones panning out in about a quarter or so, while some of the more volatile ones have played out in weeks. Today we are highlighting a name that we think moves from the $20s into the $30s. It has moderate growth and good value. That is a combination that has worked for us. It is pretty low beta, but we would like to buy two lots, and look to jettison over $31 for a nice 10-15% gain. The name in question is TriMas Corporation (TRS). Who is TriMas? We are sure that is not a household name for many of you. So for likely all of our readers that are unfamiliar with this company, TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through three segments. These are the TriMas Packaging, TriMas Aerospace, and Specialty Products groups. Let us share with you the company description of each group. TriMas Packaging consists primarily of the "Rieke, Affaba & Ferrari, Taplas, Rapak, Plastic Srl, Intertech and Omega brands. This division develops and manufactures specialty dispensing and closure products for the applications of beauty & personal care, food & beverage, pharmaceutical & nutraceutical, industrial and home care" markets. TriMas website It also makes dispensing products include "foamer pumps, lotion pumps, fine mist sprayers, trigger sprayers, beverage dispensers and flip-top caps, among others. Closures include packaged food lids, child resistant caps, tube, jar and pail closures, and a variety of industrial related products", such as drum closures. Rieke also has a full line of lock-down dispensers. The products enjoy strong demand even in recession. TriMas Aerospace, which is comprised of "Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners, Martinic Engineering, RSA Engineered Products and TFI Aerospace brands, designs, qualifies and manufactures precision fasteners, air ducting products and precision machined components" for a few customers. These include commercial aircraft companies, distributors, suppliers and of course, the U.S. military. TriMas Aerospace TriMas Aerospace’s products include highly engineered "fastener solutions for composite and metallic aircraft structural applications including customer-qualified blind bolts, solid and blind rivets, temporary fasteners, collars and standard fasteners". This division also makes air ducting products including systems and connectors used for anti-icing needs and other aerospace applications. Finally there is the Specialty Products segment which is comprised of the Norris Cylinder and Arrow Engine brands. TriMas speciality brands Norris Cylinder designs and manufactures a full range of "highly-engineered high-pressure and low-pressure steel cylinders used for the transportation, storage and dispensing of compressed gases". Arrow Engine develops and manufactures a variety of natural gas powered engines and gas compressors for use within the oil and gas markets. Stock trading So now you have a solid foundation of the operations. The stock has ebbed and flowed, and has pulled back heavily with the overall market. We like a buy in the $20s: BAD BEAT Investing The play Target entry 1: $28.75-$28.95 (20% of position) Target entry 1: $27.75-$28.00 (30% of position) Target entry 2: $25.40-$25.60 (50% of position) Stop loss: $23 Target exit: $31.50-$32.00 Discussion The stock is not wild, but if the market moves lower, we can get our second leg. I like management here, and performance is solid. TriMas Q2 slides They are growing and have great value. They just reported a decent Q2. Top line growth evident TriMas reported Q2 2022 net sales of $237.7 million, an increase of 8.5% vs. the $219.0 million in Q2 2021, primarily as a result of increased demand in TriMas' Specialty Products group and acquisition-related sales. Currency exchange however weighed a good amount. TriMas Q2 Slides Not only are sales growing steadily, the company is profitable, and growing said profit. The company reported operating profit of $29.9 million in Q2, an increase of 16.8% vs. the $25.6 million in Q2 2021. Now, if we adjust for some items that were associated with the realignment and acquisition-related transaction costs, adjusted operating profit was $32.1 million, an increase of 7.2% compared to $30.0 million last year. Not bad.
Trimas Non-GAAP EPS in-line, revenue misses estimates
Trimas press release (NASDAQ:TRS): Q2 Non-GAAP EPS of $0.60 in-line. Revenue of $237.68M (+8.5% Y/Y) misses by $1.24M. The Company reaffirms its full year 2022 outlook originally provided on March 1, 2022. The Company expects to generate full year 2022 adjusted diluted earnings per share(2) in the range of $2.25 to $2.35, based on consolidated sales growth of 8% to 11% compared to 2021. In addition, the Company is targeting 2022 Free Cash Flow(3) to be greater than 100% of net income.
Shareholder Returns
| TRS | US Packaging | US Market | |
|---|---|---|---|
| 7D | -2.6% | -2.1% | -2.5% |
| 1Y | -22.8% | -27.2% | -23.2% |
Return vs Industry: TRS exceeded the US Packaging industry which returned -27.2% over the past year.
Return vs Market: TRS matched the US Market which returned -23.2% over the past year.
Price Volatility
| TRS volatility | |
|---|---|
| TRS Average Weekly Movement | 3.6% |
| Packaging Industry Average Movement | 5.1% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.6% |
| 10% least volatile stocks in US Market | 2.8% |
Stable Share Price: TRS is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: TRS's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1986 | 3,500 | Tom Amato | https://www.trimascorp.com |
TriMas Corporation designs, develops, manufactures, and sells products for consumer products, aerospace, and industrial markets worldwide. It operates through three segments: Packaging, Aerospace, and Specialty Products. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, flexible spouts, and agricultural closures; polymeric jar products; integrated dispensers; bag-in-box products; aseptic closures; industrial closures and flex spouts; custom injection molded components and devices; various injection molded products; and single-bodied and assembled caps and closures under the Rieke, Taplast, Affaba & Ferrari, Stolz, Omega, and Rapak brands.
TriMas Fundamentals Summary
| TRS fundamental statistics | |
|---|---|
| Market Cap | US$1.05b |
| Earnings (TTM) | US$66.44m |
| Revenue (TTM) | US$893.38m |
15.8x
P/E Ratio1.2x
P/S RatioIs TRS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| TRS income statement (TTM) | |
|---|---|
| Revenue | US$893.38m |
| Cost of Revenue | US$671.56m |
| Gross Profit | US$221.82m |
| Other Expenses | US$155.38m |
| Earnings | US$66.44m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.58 |
| Gross Margin | 24.83% |
| Net Profit Margin | 7.44% |
| Debt/Equity Ratio | 62.5% |
How did TRS perform over the long term?
See historical performance and comparisonDividends
0.6%
Current Dividend Yield8%
Payout RatioValuation
Is TRS undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for TRS?
Other financial metrics that can be useful for relative valuation.
| What is TRS's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$1.05b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 1.6x |
| Enterprise Value/EBITDA | 9.3x |
| PEG Ratio | 0.6x |
Price to Earnings Ratio vs Peers
How does TRS's PE Ratio compare to its peers?
| TRS PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 9.2x | ||
MYE Myers Industries | 12.4x | 24.1% | US$600.6m |
OI O-I Glass | 4.4x | -12.5% | US$2.0b |
GEF Greif | 7.4x | 7.9% | US$2.9b |
SLGN Silgan Holdings | 12.6x | 8.7% | US$4.6b |
TRS TriMas | 15.8x | 26.2% | US$1.1b |
Price-To-Earnings vs Peers: TRS is expensive based on its Price-To-Earnings Ratio (15.8x) compared to the peer average (9.2x).
Price to Earnings Ratio vs Industry
How does TRS's PE Ratio compare vs other companies in the North American Packaging Industry?
Price-To-Earnings vs Industry: TRS is expensive based on its Price-To-Earnings Ratio (15.8x) compared to the North American Packaging industry average (12.6x)
Price to Earnings Ratio vs Fair Ratio
What is TRS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 15.8x |
| Fair PE Ratio | 21.9x |
Price-To-Earnings vs Fair Ratio: TRS is good value based on its Price-To-Earnings Ratio (15.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.9x).
Share Price vs Fair Value
What is the Fair Price of TRS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: TRS ($25.07) is trading below our estimate of fair value ($80.58)
Significantly Below Fair Value: TRS is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Insufficient data to show price forecast.
Discover undervalued companies
Future Growth
How is TriMas forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Future Growth Score
3/6Future Growth Score 3/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
26.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TRS's forecast earnings growth (26.2% per year) is above the savings rate (1.9%).
Earnings vs Market: TRS's earnings (26.2% per year) are forecast to grow faster than the US market (14.8% per year).
High Growth Earnings: TRS's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: TRS's revenue (5.7% per year) is forecast to grow slower than the US market (7.7% per year).
High Growth Revenue: TRS's revenue (5.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if TRS's Return on Equity is forecast to be high in 3 years time
Discover growth companies
Past Performance
How has TriMas performed over the past 5 years?
Past Performance Score
3/6Past Performance Score 3/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-2.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TRS has high quality earnings.
Growing Profit Margin: TRS became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: TRS has become profitable over the past 5 years, growing earnings by -2.9% per year.
Accelerating Growth: TRS has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: TRS has become profitable in the last year, making it difficult to compare its past year earnings growth to the Packaging industry (12.1%).
Return on Equity
High ROE: TRS's Return on Equity (10.5%) is considered low.
Discover strong past performing companies
Financial Health
How is TriMas's financial position?
Financial Health Score
4/6Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: TRS's short term assets ($385.3M) exceed its short term liabilities ($155.6M).
Long Term Liabilities: TRS's short term assets ($385.3M) do not cover its long term liabilities ($516.4M).
Debt to Equity History and Analysis
Debt Level: TRS's net debt to equity ratio (54.7%) is considered high.
Reducing Debt: TRS's debt to equity ratio has reduced from 66.3% to 62.5% over the past 5 years.
Debt Coverage: TRS's debt is well covered by operating cash flow (30.2%).
Interest Coverage: TRS's interest payments on its debt are well covered by EBIT (7.4x coverage).
Balance Sheet
Discover healthy companies
Dividend
What is TriMas's current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
0.64%
Current Dividend Yield
Dividend Yield vs Market
| TriMas Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (TriMas) | 0.6% |
| Market Bottom 25% (US) | 1.7% |
| Market Top 25% (US) | 4.7% |
| Industry Average (Packaging) | 3.1% |
| Analyst forecast in 3 Years (TriMas) | n/a |
Notable Dividend: TRS's dividend (0.64%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: TRS's dividend (0.64%) is low compared to the top 25% of dividend payers in the US market (4.73%).
Stability and Growth of Payments
Stable Dividend: TRS is not paying a notable dividend for the US market, therefore no need to check if payments are stable.
Growing Dividend: TRS is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.
Earnings Payout to Shareholders
Earnings Coverage: TRS is not paying a notable dividend for the US market.
Cash Payout to Shareholders
Cash Flow Coverage: TRS is not paying a notable dividend for the US market.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
5.8yrs
Average management tenure
CEO
Tom Amato (59 yo)
6.17yrs
Tenure
US$4,582,126
Compensation
Mr. Thomas A. Amato, also known as Tom, has been the Chief Executive Officer and President at TriMas Corporation since July 28, 2016. He has worked as the Chief Executive Officer for notable private equity...
CEO Compensation Analysis
| Tom Amato's Compensation vs TriMas Earnings |
|---|
| Date | Total Comp. | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2022 | n/a | n/a | US$66m |
| Mar 31 2022 | n/a | n/a | US$58m |
| Dec 31 2021 | US$5m | US$712k | US$57m |
| Sep 30 2021 | n/a | n/a | US$68m |
| Jun 30 2021 | n/a | n/a | -US$52m |
| Mar 31 2021 | n/a | n/a | -US$80m |
| Dec 31 2020 | US$5m | US$665k | -US$80m |
| Sep 30 2020 | n/a | n/a | -US$90m |
| Jun 30 2020 | n/a | n/a | US$26m |
| Mar 31 2020 | n/a | n/a | US$61m |
| Dec 31 2019 | US$4m | US$687k | US$62m |
| Sep 30 2019 | n/a | n/a | US$56m |
| Jun 30 2019 | n/a | n/a | US$63m |
| Mar 31 2019 | n/a | n/a | US$64m |
| Dec 31 2018 | US$4m | US$638k | US$74m |
| Sep 30 2018 | n/a | n/a | US$63m |
| Jun 30 2018 | n/a | n/a | US$53m |
| Mar 31 2018 | n/a | n/a | US$48m |
| Dec 31 2017 | US$4m | US$625k | US$36m |
| Sep 30 2017 | n/a | n/a | -US$32m |
| Jun 30 2017 | n/a | n/a | -US$37m |
| Mar 31 2017 | n/a | n/a | -US$41m |
| Dec 31 2016 | US$1m | US$257k | -US$40m |
Compensation vs Market: Tom's total compensation ($USD4.58M) is about average for companies of similar size in the US market ($USD4.14M).
Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: TRS's management team is seasoned and experienced (5.8 years average tenure).
Board Members
Experienced Board: TRS's board of directors are considered experienced (6.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: TRS insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Date | Value | Name | Entity | Role | Shares | Max Price |
|---|---|---|---|---|---|---|
| 09 Sep 22 | BuyUS$250,099 | Teresa Finley | Individual | 9,356 | US$26.86 | |
| 06 Sep 22 | SellUS$20,030 | Scott Mell | Individual | 757 | US$26.46 | |
| 07 Jun 22 | SellUS$203,388 | John Schaefer | Individual | 6,800 | US$29.91 | |
| 02 Mar 22 | BuyUS$99,960 | Teresa Finley | Individual | 3,236 | US$30.89 | |
| 02 Mar 22 | SellUS$94,770 | Samuel Valenti | Individual | 3,000 | US$31.59 | |
| 09 Nov 21 | SellUS$700,801 | Thomas Amato | Individual | 18,915 | US$37.05 | |
| 08 Nov 21 | SellUS$4,638 | Thomas Amato | Individual | 125 | US$37.12 |
Ownership Breakdown
| Owner Type | Number of Shares | Ownership Percentage |
|---|---|---|
| Individual Insiders | 581,250 | 1.3% |
| Institutions | 43,765,447 | 98.7% |
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
| Ownership | Name | Shares | Current Value | Change % | Portfolio % | |
|---|---|---|---|---|---|---|
| 4,092,863 | $102.6m | 0.31% | no data | |||
| 3,191,490 | $80.0m | -4.67% | 0.54% | |||
| 3,049,973 | $76.5m | -22.55% | 0.38% | |||
| 3,005,494 | $75.3m | 21.69% | 0.09% | |||
| 2,906,367 | $72.9m | -1.11% | 0.6% | |||
| 2,902,180 | $72.8m | -2.72% | no data | |||
| 2,631,749 | $66.0m | 0.08% | 0.01% | |||
| 2,582,564 | $64.7m | -0.4% | 0.1% | |||
| 2,282,184 | $57.2m | 0.75% | 0.01% | |||
| 1,719,497 | $43.1m | -0.31% | 0.14% | |||
| 1,677,956 | $42.1m | -7.21% | 0.01% | |||
| 1,357,694 | $34.0m | 99.27% | 0.5% | |||
| 899,328 | $22.5m | 2% | no data | |||
| 794,944 | $19.9m | -1.62% | 0.08% | |||
| 781,058 | $19.6m | 2.14% | 0.19% | |||
| 776,322 | $19.5m | -1.26% | no data | |||
| 695,460 | $17.4m | -1.86% | 0.01% | |||
| 675,000 | $16.9m | 0% | 0.04% | |||
| 510,448 | $12.8m | -6.42% | 0.01% | |||
| 500,245 | $12.5m | 1.16% | 0.3% | |||
| 462,227 | $11.6m | 2.82% | no data | |||
| 414,697 | $10.4m | -1.67% | no data | |||
| 396,272 | $9.9m | 2.75% | 3.59% | |||
| 366,484 | $9.2m | 4.96% | no data | |||
| 366,293 | $9.2m | -3.05% | 0.39% |
Company Information
TriMas Corporation's employee growth, exchange listings and data sources
Key Information
- Name: TriMas Corporation
- Ticker: TRS
- Exchange: NasdaqGS
- Founded: 1986
- Industry: Metal and Glass Containers
- Sector: Materials
- Implied Market Cap: US$1.053b
- Shares outstanding: 42.00m
- Website: https://www.trimascorp.com
Number of Employees
Location
- TriMas Corporation
- 38505 Woodward Avenue
- Suite 200
- Bloomfield Hills
- Michigan
- 48304
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| TRS | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | May 2007 |
| MQ1 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | May 2007 |
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/10/01 00:00 |
| End of Day Share Price | 2022/09/30 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.