TriMas Corporation
- Open
- 40.98
- Day high
- 41.15
- Day low
- 40.55
- Prev close
- 40.90
- Volume
- 70K
- Mkt cap
- $1.5B
- P/E (TTM)
- 1.7
- EPS (TTM)
- $24.07
- P/B
- 1.0
- P/S
- 1.7
- Yield
- 0.20%
- Per share
- $0.08
- ▼Insiders net selling -$879K over the last 3 months (1 open-market buy, 3 sales)
- 🏛Institutions mixed (13F)
TriMas Corporation (TRS) is a Consumer Cyclical company listed on NASDAQ. The stock is up 35% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 3 sales (SEC Form 4).
TriMas Corporation (TRS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TRS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.19 | $0.24 | +26.6% | $168M | +6.3% |
| Oct 28, 2025 | $0.56 | $0.61 | +8.2% | $269M | +2.7% |
| Jul 29, 2025 | $0.50 | $0.61 | +22.0% | $275M | +4.8% |
| Feb 27, 2025 | $0.48 | $0.43 | -10.4% | $228M | -4.5% |
| Apr 30, 2024 | $0.28 | $0.37 | +32.1% | $227M | +2.9% |
| Feb 29, 2024 | $0.54 | $0.37 | -31.5% | $210M | -15.0% |
| Oct 26, 2023 | $0.56 | $0.57 | +1.8% | $235M | -4.8% |
| Jul 27, 2023 | $0.50 | $0.50 | +0.0% | $233M | -8.8% |
| Apr 27, 2023 | $0.27 | $0.30 | +11.1% | $215M | +3.3% |
| Feb 23, 2023 | $0.66 | $0.62 | -6.1% | $203M | -3.9% |
| Oct 27, 2022 | $0.61 | $0.40 | -34.4% | $219M | -11.4% |
| Jul 28, 2022 | $0.60 | $0.60 | +0.0% | $238M | -0.5% |
TRS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | Parker Herbert Kdirector | Sell | 15,000 | $45.03 |
| Jun 25, 2026 | Snyder Thomas Jamesdirector, officer: President and CEO | Tax | 22,155 | $43.60 |
| May 15, 2026 | Tredwell Daniel Pdirector | Buy | 62 | $40.58 |
| May 7, 2026 | Robin Jodi F.officer: General Counsel and Secretary | Sell | 2,000 | $41.60 |
| May 7, 2026 | Robin Jodi F.officer: General Counsel and Secretary | Sell | 3,000 | $41.09 |
| Apr 16, 2026 | SEDAGHAT SHAWNdirector, 10 percent owner: | Grant | 640 | $39.03 |
| Mar 23, 2026 | Finley Teresadirector | Tax | 6,192 | $34.04 |
| Mar 16, 2026 | SEDAGHAT SHAWNdirector, 10 percent owner: | Grant | 2,853 | — |
| Mar 16, 2026 | Stanage Nick Ldirector | Grant | 2,853 | — |
| Mar 16, 2026 | Robin Jodi F.officer: General Counsel and Secretary | Tax | 2,388 | $35.04 |
| Mar 16, 2026 | Finley Teresadirector | Grant | 2,853 | — |
| Mar 16, 2026 | SHAPIRA ADRIANNEdirector | Grant | 2,853 | — |
| Mar 16, 2026 | Parker Herbert Kdirector | Grant | 2,853 | — |
| Mar 16, 2026 | Stress Jill S.officer: Chief Human Resources Officer | Tax | 1,999 | $35.04 |
| Mar 16, 2026 | Fielkow Jeffrey Adirector | Grant | 2,853 | — |
Source: TRS SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full TRS insider & 13F page →TriMas Corporation company profile
Overview
TriMas Corporation (NYSE:TRS) is a diversified industrial manufacturing company founded in 1986 and headquartered in Bloomfield Hills, Michigan. The company went public in 2007 and has evolved through strategic acquisitions and divestitures to focus on three core business segments: packaging solutions, aerospace fasteners and components, and specialty industrial products. TriMas serves customers across consumer products, aerospace, defense, and industrial markets worldwide through a combination of direct sales, third-party agents, and distributors.
Business
TriMas operates as a diversified manufacturer across three distinct business segments that serve different end markets and customer bases. The Packaging segment represents approximately 55% of total revenue and manufactures dispensing products and closure systems for consumer goods. This includes foaming and sanitizer pumps, lotion dispensers, beverage closures, food lids, child-resistant caps, and specialized dispensing systems. The segment operates under brands including Rieke, Taplast, Affaba & Ferrari, Stolz, Omega, and Rapak. These products are essential components for beauty and personal care products, household cleaners, food and beverage containers, and pharmaceutical applications. The packaging industry requires precision manufacturing to ensure product integrity, safety compliance, and user functionality. The Aerospace segment accounts for roughly 32% of revenue and produces critical fastening systems and components for commercial and military aircraft. This includes specialized fasteners, blind bolts, rivets, ducting systems, connectors for air management, and precision machined components. The segment serves original equipment manufacturers like Airbus and Boeing, supply chain distributors, maintenance/repair/overhaul providers, and tier-one aerospace suppliers under brands such as Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners, TFI Aerospace, RSA Engineered Products, and Martinic Engineering. Aerospace components must meet stringent safety and performance standards, with long certification cycles and multi-year contracts. The Specialty Products segment comprises about 13% of revenue and manufactures steel cylinders for compressed gas storage and transportation under the Norris Cylinder brand, along with natural gas-powered engines and compressors for oil and gas production under the Arrow brand. These products serve industrial applications including welding, medical gases, beverage dispensing, and energy production. The company has been divesting non-core assets in this segment, including the recent sale of its aero engine business.
Revenue model
TriMas generates revenue primarily through direct product sales to industrial customers, operating on a traditional manufacturing business model where it designs, produces, and sells physical products across its three segments. In the Packaging segment, the company sells dispensing systems and closures to consumer goods manufacturers who integrate these components into their final products. Revenue comes from both standard catalog products and custom-engineered solutions, with pricing typically based on volume commitments and long-term supply agreements. The segment benefits from recurring demand as packaging components are consumed with each product cycle. The Aerospace segment operates on longer sales cycles with multi-year contracts, particularly evident in the recent Airbus fastener contract secured for 2026 and beyond. Revenue is generated through sales to aircraft manufacturers, maintenance providers, and defense contractors. The segment maintains a substantial order backlog exceeding $350 million, providing revenue visibility. Aerospace customers typically require extensive certification processes, creating switching costs and customer stickiness. The Specialty Products segment sells industrial cylinders and energy equipment on both project-based and replacement cycles. Revenue fluctuates with industrial activity levels, energy sector capital expenditure, and regulatory requirements for specialized gas handling equipment. Several factors influence TriMas's profitability margins. Raw material costs, particularly steel and polymers, directly impact manufacturing costs across all segments. The company actively manages these through pricing adjustments and supply chain optimization. Labor costs and manufacturing efficiency affect conversion rates, with the company investing in automation and operational improvements. Currency fluctuations impact international operations, while tariffs on imported materials create both cost pressures and competitive dynamics. Market demand cycles, particularly in aerospace recovery post-COVID and industrial activity levels, significantly influence capacity utilization and fixed cost absorption. Competition varies by segment, with packaging facing commoditization pressures while aerospace benefits from high barriers to entry and certification requirements.
Competitive moat
TriMas possesses moderate competitive advantages that vary significantly across its business segments, creating an uneven moat profile. The Aerospace segment demonstrates the strongest moat characteristics due to high barriers to entry in the aerospace supply chain. Fastener and component suppliers must undergo extensive certification processes with aircraft manufacturers, creating substantial switching costs for customers. The segment benefits from long-term contracts, established relationships with major OEMs like Airbus, and the critical nature of aerospace components where reliability and safety are paramount. The recent multi-year Airbus contract demonstrates customer stickiness and provides revenue visibility. However, the aerospace market is cyclical and concentrated among few major customers, creating dependency risks. The Packaging segment operates in a more competitive environment with moderate differentiation. While the company offers custom-engineered solutions and maintains established customer relationships, packaging components face commoditization pressures. The segment's strength lies in its technical expertise for specialized applications like life sciences and beauty products, where regulatory compliance and performance requirements create some customer switching costs. Brand recognition through names like Rieke provides modest competitive advantage, but the overall packaging market remains price-sensitive with numerous competitors. The Specialty Products segment has the weakest moat, operating in cyclical industrial markets with limited differentiation. While Norris Cylinder has established distribution channels and manufacturing capabilities, steel cylinders are largely commodity products competing primarily on price and delivery. The segment's performance closely tracks industrial activity levels, making it vulnerable to economic cycles. Overall, TriMas's competitive position is strongest in aerospace, moderate in packaging, and weakest in specialty products. The company faces potential disruption from larger, more diversified competitors with greater resources for innovation and market expansion. Technological changes in packaging materials or manufacturing processes could erode existing advantages, while aerospace consolidation among suppliers poses long-term competitive risks.
Risks & safety
TriMas demonstrates a moderate margin of safety with mixed financial health indicators across different metrics. **Liquidity and Solvency:** • Current ratio of 2.82 indicates strong short-term liquidity • Cash position of $32.7 million is relatively modest for a $1.4 billion asset base • Free cash flow turned negative at -$3.8 million in Q1 2025, concerning for near-term cash generation • Debt-to-equity ratio of 0.70 represents moderate leverage, manageable but not conservative **Valuation Metrics:** • Trading at 19.2x earnings with recent quarterly EPS improvement • EV/EBITDA of 9.87x appears reasonable for a cyclical industrial company • Price-to-book ratio of 1.39x suggests modest premium to tangible assets • Graham number analysis indicates potential undervaluation relative to asset backing **Other Considerations:** • Diversified revenue streams across three segments provide some stability • Aerospace backlog of $350+ million offers revenue visibility • Recent operational improvements and margin expansion initiatives show management execution • Exposure to cyclical end markets creates earnings volatility risk
Recent development
Over the past few years, TriMas has pursued a focused portfolio optimization strategy while investing in operational improvements across its core segments. The company has actively reshaped its business portfolio through strategic acquisitions and divestitures. Notable acquisitions include GMT Aerospace in Germany (renamed TAG), which strengthens the aerospace segment's European presence and manufacturing capabilities. In the packaging segment, TriMas acquired Aarts Packaging in the Netherlands to expand its beauty, food, and medical market exposure. Conversely, the company divested its aero engine business to focus resources on higher-margin, core operations. Operationally, TriMas has invested significantly in manufacturing capacity and efficiency improvements. The packaging segment has addressed capacity constraints through facility expansions and production line optimization, while implementing new customer relationship management systems and reorganizing its commercial model. The aerospace segment has made substantial operational improvements, with sales now exceeding pre-COVID levels and EBITDA margins returning to historical norms. The company has also adapted to evolving trade dynamics by establishing manufacturing flexibility. TriMas launched a new facility in Vietnam to mitigate potential tariff impacts, with only 5% of packaging sales currently imported from China. Management has demonstrated the ability to relocate production within 12-18 months when necessary, providing strategic flexibility for future trade policy changes. Strategic initiatives include a renewed focus on higher-growth, higher-margin markets such as life sciences and beauty & personal care within the packaging segment. The company has engaged consulting firms to assess growth opportunities and continues evaluating its portfolio for optimization opportunities. Recent margin improvement programs across all segments have shown early success, with management targeting 100-200 basis points of margin expansion across the business.
TRS company profile · for informational purposes only — not investment advice.
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