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Trimas Corp (TRS)
NASDAQ:TRS
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Trimas (TRS) AI Stock Analysis

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TRS

Trimas

(NASDAQ:TRS)

Rating:70Outperform
Price Target:
$33.00
▲(4.66%Upside)
Trimas Corporation's overall score reflects a robust earnings performance, driven by strong growth in the Aerospace segment and improved margins. The financial health of the company is solid, with low leverage and effective cash generation. However, the stock appears overvalued with a high P/E ratio and low dividend yield. Technical indicators suggest strong momentum, but overbought signals caution potential investors.
Positive Factors
Aerospace Segment
TriMas Corp. benefited from an increase in orders within its aerospace segment.
Earnings
TriMas Corp. reported sales of $228.1 million compared to the forecast of $225.9 million, showing better-than-expected performance.
Negative Factors
Cost Structure
The decline in EPS is related to TriMas Corp. having a higher cost structure this year.
Guidance
The full year guidance remained unchanged due to tariffs being an unknown factor.

Trimas (TRS) vs. SPDR S&P 500 ETF (SPY)

Trimas Business Overview & Revenue Model

Company DescriptionTriMas 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. The Aerospace segment provides fasteners, collars, blind bolts, rivets, ducting, and connectors for air management systems, and machined parts and components to original equipment manufacturers, supply chain distributors, MRO/aftermarket providers, and tier one suppliers; and military and defense aerospace applications and platforms under the Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners, TFI Aerospace, RSA Engineered Products, and Martinic Engineering brands. The Specialty Products segment offers steel cylinders for use in the transportation, storage, and dispensing of compressed gases under the Norris Cylinder brand; natural gas powered wellhead engines, compressors, and replacement parts for oil and natural gas production, and other industrial and commercial markets under the Arrow brand; and spare parts for various industrial engines. The company sells its products through a direct sales force, third-party agents, and distributors. TriMas Corporation was incorporated in 1986 and is headquartered in Bloomfield Hills, Michigan.
How the Company Makes MoneyTriMas generates revenue primarily through the sale of its engineered products across its three business segments. In the Packaging segment, the company earns money by providing a wide range of closure and dispensing systems to consumer goods companies, which are used in products such as lotions, cleaners, and food containers. The Aerospace segment contributes to revenue through the manufacturing and sale of complex components and fasteners used in commercial and military aircraft. The Specialty Products segment includes various industrial products such as gaskets, cylinders, and other engineered components, which are sold to industries like oil and gas, construction, and transportation. TriMas also benefits from strategic partnerships and long-term contracts with major companies in these sectors, which help ensure a steady income stream.

Trimas Earnings Call Summary

Earnings Call Date:Apr 29, 2025
(Q1-2025)
|
% Change Since: 50.43%|
Next Earnings Date:Jul 29, 2025
Earnings Call Sentiment Positive
TriMas Corporation reported a strong start to 2025, driven by robust performance in the Aerospace segment and improved profit margins. However, challenges in the Packaging segment and geopolitical uncertainties posed concerns. Despite these challenges, the overall outlook remains positive with strategic acquisitions and a strong balance sheet supporting future growth.
Q1-2025 Updates
Positive Updates
Strong Start to 2025
TriMas Corporation reported a strong start to the year with significant growth in its two largest segments, Packaging and Aerospace, which represent nearly 90% of the company's revenues.
Aerospace Segment Record Sales
The aerospace business achieved another record sales quarter with 27.8% organic growth and continued momentum, driving conversion to just over 22% EBITDA.
Improved Profit Margins
Consolidated operating profit increased by more than 50% compared to Q1 2024, with a meaningful increase in adjusted EBITDA up 13.5% to $39.7 million and a margin improvement of 100 basis points to 16.4%.
Successful Acquisition and Integration
The acquisition of GMT Aerospace contributed $3.3 million in sales, and the integration is underway, positioning the company well in the aerospace market.
Balance Sheet Strength
The company successfully refinanced its senior secured revolving credit facility, extending maturity to 2030, with a strong capital structure well-positioned for future investments.
Encouraging Signs in Specialty Products
Order intake for specialty products, particularly North Cylinder, is beginning to increase, indicating a potential recovery and future contribution to overall performance.
Negative Updates
Packaging Segment Challenges
The Packaging Group's sales growth was impacted by negative currency effects and elevated customer inventory levels, leading to lower demand in some product lines.
Impact of Geopolitical Uncertainty
The current trade strategy from the US government poses a challenge with potential tariff impacts, requiring strategic adjustments and creating uncertainty in future performance.
Specialty Products Segment Decline
Specialty product sales were lower than the prior year quarter by $7.9 million, impacted by the divestiture of AeroEngine and lower demand for cylinders.
Incremental Costs in Packaging
The proactive decision to secure materials ahead of changing tariff rates resulted in approximately 100 basis points of extraordinary freight expense, impacting the quarter's margins.
Company Guidance
During TriMas Corporation's Q1 2025 earnings call, the company reported a strong start to the year, driven primarily by substantial growth in its Aerospace segment, which saw an organic growth rate of 27.8% and achieved a record sales quarter with a 22% EBITDA conversion rate. The Packaging segment also contributed positively with a 3.3% organic growth rate, although its conversion rate was slightly below the previous year due to proactive material procurement ahead of changing tariff rates. Overall, consolidated net sales increased by $6 million, with an 8% organic revenue growth when accounting for acquisitions and currency impacts. The company's adjusted EBITDA rose by 13.5% to $39.7 million, with a margin improvement of 100 basis points to 16.4%. Despite potential challenges from geopolitical actions affecting tariffs, TriMas reaffirmed its 2025 outlook, highlighting a strategic focus on mitigating impacts through global production capabilities and ongoing market demand, especially in the aerospace and packaging sectors.

Trimas Financial Statement Overview

Summary
Trimas demonstrates solid financial health with consistent revenue growth and improved profitability margins. The balance sheet reflects low leverage, supporting financial stability. Cash flow analysis shows robust operational cash generation, though capital expenditures affect free cash flow. The company is well-positioned for continued growth and stability.
Income Statement
75
Positive
Trimas shows a positive revenue growth trend with a 5.1% increase in TTM (Trailing-Twelve-Months) compared to the prior year. The company's gross profit margin is stable at 21.3% for TTM, albeit slightly lower than previous years. Net profit margin improved to 3.4% in TTM, indicating enhanced profitability. EBIT margin rose to 6.0%, suggesting better operational efficiency, while EBITDA margin improved significantly to 11.7%, reflecting strong cash earnings potential.
Balance Sheet
70
Positive
Trimas maintains a healthy equity ratio of 49.3% in TTM, indicating solid equity backing. The debt-to-equity ratio stands at 0.07, demonstrating low leverage and financial stability. Return on equity is modest at 4.6% in TTM, showing potential for higher profitability. The balance sheet reflects a stable financial position with manageable debt levels.
Cash Flow
68
Positive
The cash flow analysis shows a strong operating cash flow to net income ratio of 2.43 in TTM, indicating effective cash generation from operations. Free cash flow to net income ratio is 0.83, demonstrating decent cash flow conversion. Free cash flow growth of 102.9% in TTM highlights significant improvement, though capital expenditures slightly constrain free cash flow.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue925.01M893.55M883.83M857.11M769.97M
Gross Profit199.46M201.32M208.30M217.19M182.08M
EBITDA47.19M124.10M140.86M158.19M-38.28M
Net Income24.25M40.36M66.17M57.31M-79.76M
Balance Sheet
Total Assets1.32B1.34B1.30B1.30B1.19B
Cash, Cash Equivalents and Short-Term Investments23.07M34.89M112.09M140.74M73.95M
Total Debt442.84M443.25M444.02M445.72M384.64M
Total Liabilities656.88M658.71M653.17M672.79M609.63M
Stockholders Equity667.30M682.95M651.83M630.85M584.25M
Cash Flow
Free Cash Flow12.82M33.97M26.61M89.16M86.93M
Operating Cash Flow63.78M88.16M72.57M134.22M127.41M
Investing Cash Flow-46.96M-134.42M-55.04M-79.18M-232.07M
Financing Cash Flow-28.64M-30.94M-46.18M11.75M6.14M

Trimas Technical Analysis

Technical Analysis Sentiment
Positive
Last Price31.53
Price Trends
50DMA
27.74
Positive
100DMA
25.31
Positive
200DMA
25.22
Positive
Market Momentum
MACD
1.00
Negative
RSI
75.45
Negative
STOCH
91.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRS, the sentiment is Positive. The current price of 31.53 is above the 20-day moving average (MA) of 29.85, above the 50-day MA of 27.74, and above the 200-day MA of 25.22, indicating a bullish trend. The MACD of 1.00 indicates Negative momentum. The RSI at 75.45 is Negative, neither overbought nor oversold. The STOCH value of 91.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRS.

Trimas Risk Analysis

Trimas disclosed 26 risk factors in its most recent earnings report. Trimas reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Trimas Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
$1.28B41.004.64%0.51%3.80%-20.92%
70
Outperform
$4.80B30.973.97%4.30%0.92%
66
Neutral
$558.49M54.953.69%3.61%3.92%-73.64%
66
Neutral
$4.63B15.2143.40%2.58%-2.45%-16.55%
65
Neutral
$2.27B-13.85%-5.29%18.22%
63
Neutral
$17.10B10.79-8.01%2.94%1.62%-25.73%
52
Neutral
$2.32B-69.06%10.31%8.39%72.18%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TRS
Trimas
31.53
4.21
15.41%
MYE
Myers Industries
14.94
0.81
5.73%
OI
O-I Glass
14.66
3.10
26.82%
SEE
Sealed Air
31.03
-5.75
-15.63%
SON
Sonoco Products
48.58
-1.54
-3.07%
AMBP
Ardagh Metal Packaging
3.88
0.65
20.12%

Trimas Corporate Events

Executive/Board ChangesBusiness Operations and Strategy
TriMas Appoints Thomas Snyder as New CEO
Neutral
Jun 9, 2025

On June 3, 2025, TriMas Corporation’s Board of Directors appointed Thomas Snyder as the new President and CEO, effective June 23, 2025, succeeding Thomas Amato. Snyder brings nearly 35 years of experience from Silgan Holdings Inc., and his appointment includes a comprehensive compensation package. The transition is expected to impact the company’s leadership dynamics and operational strategies, with Amato transitioning to a Special Advisor role until June 30, 2025.

The most recent analyst rating on (TRS) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Trimas stock, see the TRS Stock Forecast page.

Executive/Board ChangesShareholder Meetings
TriMas Holds Annual Shareholders Meeting, Elects Directors
Neutral
May 15, 2025

On May 14, 2025, TriMas Corporation held its Annual Meeting of Shareholders, where 37,408,528 shares were represented, constituting a quorum. During the meeting, shareholders elected directors Jeffrey A. Fielkow and Adrianne W. Shapira for a three-year term, ratified Deloitte & Touche LLP as the independent public accounting firm for 2025, and approved the compensation for the Company’s Named Executive Officers.

The most recent analyst rating on (TRS) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Trimas stock, see the TRS Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 05, 2025