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Trimas (TRS)

TriMas is a global manufacturer and provider of products for customers primarily in the consumer products, aerospace and industrial markets, with approximately 3,500 dedicated employees in 11 countries. We provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the end markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol "TRS," and is headquartered inBloomfield Hills, Michigan.

Company profile

Ticker
TRS
Exchange
CEO
Thomas Amato
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Allfast Fastening Systems, LLC (California limited • Monogram Aerospace Fasteners, Inc. • Norris Cylinder Company • Rieke Corporation ...
IRS number
382687639

TRS stock data

Calendar

28 Jul 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 49.09M 49.09M 49.09M 49.09M 49.09M 49.09M
Cash burn (monthly) 3.24M 5.69M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 5.46M 9.59M n/a n/a n/a n/a
Cash remaining 43.63M 39.5M n/a n/a n/a n/a
Runway (months of cash) 13.5 6.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 Aug 22 Daniel P Tredwell Common Stock Acquire L No No 28.279 4.272 120.81 43,198.641
1 Aug 22 Fabio Leandro Matheus Salik Common Stock Payment of exercise Dispose F No No 29.94 1,331 39.85K 17,756
1 Jul 22 Scott A Mell Common Stock Payment of exercise Dispose F No No 27.95 1,417 39.61K 22,301
7 Jun 22 John Philip Schaefer Common Stock Sell Dispose S No No 29.91 6,800 203.39K 11,087
10 May 22 Daniel P Tredwell Common Stock Acquire L No No 27.613 4.369 120.64 43,194.369
29 Apr 22 John Philip Schaefer Common Stock Payment of exercise Dispose F No No 29.54 1,243 36.72K 17,887
29 Apr 22 John Philip Schaefer Common Stock Grant Acquire A No No 0 2,378 0 19,130
46.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 139 134 +3.7%
Opened positions 18 9 +100.0%
Closed positions 13 11 +18.2%
Increased positions 42 48 -12.5%
Reduced positions 48 43 +11.6%
13F shares Current Prev Q Change
Total value 1.17B 1.36B -14.3%
Total shares 42.09M 42.4M -0.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Vanguard 4.09M $113.33M +0.3%
Champlain Investment Partners 3.19M $88.37M -4.7%
Wasatch Advisors 3.05M $84.45M -22.6%
Victory Capital Management 3.01M $83.22M +21.7%
Fiduciary Management 2.91M $80.48M -1.1%
BLK Blackrock 2.9M $80.36M -2.7%
Wellington Management 2.63M $72.87M +0.1%
Allspring Global Investments 2.58M $71.51M -0.4%
Dimensional Fund Advisors 2.28M $63.19M +0.7%
PZN Pzena Investment Management 1.72M $47.61M -0.3%
Largest transactions Shares Bought/sold Change
Wasatch Advisors 3.05M -888.04K -22.6%
River Road Asset Management 1.36M +676.35K +99.3%
Victory Capital Management 3.01M +535.69K +21.7%
Loomis Sayles & Co L P 0 -253.53K EXIT
Champlain Investment Partners 3.19M -156.42K -4.7%
Renaissance Technologies 235.37K +137.5K +140.5%
Massachusetts Financial Services 1.68M -130.3K -7.2%
BLK Blackrock 2.9M -81.15K -2.7%
First Trust Advisors 80.48K +80.48K NEW
Parametric Portfolio Associates 0 -76.16K EXIT

Financial report summary

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Competition
BoeingGreifSilgan
Risks
  • The COVID-19 pandemic has had, and is expected to continue to have, a significant impact on the Company's operations and results.
  • Our businesses depend upon general economic conditions and we serve some customers in highly cyclical industries; as such, we may be subject to the loss of sales and margins due to an economic downturn or recession.
  • Many of the markets we serve are highly competitive, which could limit sales volumes and reduce our operating margins.
  • We may be unable to successfully implement our business strategies and achieve our strategic and financial objectives.
  • We have significant goodwill and intangible assets, and future impairment of our goodwill and intangible assets could have a material negative impact on our financial results.
  • Increases in our raw material or energy costs or the loss of critical suppliers could adversely affect our profitability and other financial results.
  • Our business may be exposed to risks associated with an increasingly concentrated customer base.
  • We are dependent on our manufacturing facilities for the production of our highly engineered products, which subjects us to risks associated with disruptions and changing technology and manufacturing techniques that could place us at a competitive disadvantage.
  • A major failure of our information systems could harm our business; increased IT security threats and more sophisticated and targeted computer crime could pose a risk to our systems, networks, and products.
  • Our ability to deliver products that satisfy customer requirements is dependent on the performance of our subcontractors and suppliers, as well as on the availability of raw materials and other components.
  • Our acquisition and disposition agreements by which we have acquired or sold companies, include indemnification provisions that may not fully protect us and may result in unexpected liabilities.
  • We could be negatively impacted by stakeholder and market focus on ESG matters.
  • Significant developments from the recent and potential changes in U.S. trade policies could have a material adverse effect on us and our financial condition and results of operations.
  • Compliance with and changes in tax laws, including tax reform legislation in the United States, could materially and adversely impact our financial condition, results of operations and cash flows.
  • We may face liability associated with the use of products for which patent ownership or other intellectual property rights are claimed.
  • We may be unable to adequately protect our intellectual property.
  • We may incur material losses and costs as a result of product liability, recall and warranty claims brought against us.
  • Our business may be materially and adversely affected by compliance obligations and liabilities under environmental laws and regulations, including related to climate change.
  • Our reputation, ability to do business, and results of operations may be impaired by legal compliance risks.
  • We have debt principal and interest payment requirements that may restrict our future operations and impair our ability to meet our obligations.
  • Our borrowing costs may be impacted by our credit ratings developed by various rating agencies.
  • We have significant operating lease obligations and our failure to meet those obligations could adversely affect our financial condition.
  • We depend on the services of key individuals and relationships, the loss of which could materially harm us.
  • We may be subject to further unionization and work stoppages at our facilities or our customers may be subject to work stoppages, which could seriously impact the profitability of our business.
  • Healthcare costs for active employees may exceed projections and may negatively affect our financial results.
Management Discussion
  • Item 2.    Management's Discussion and Analysis of Financial Condition and Results of Operations
  • TriMas designs, develops and manufactures a diverse set of products primarily for the consumer products, aerospace & defense and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our wide range of innovative products are designed and engineered to solve application-specific challenges that our customers face. We believe our businesses share important and distinguishing characteristics, including: well-recognized and leading brand names in the focused markets we serve; innovative product technologies and features; a high-degree of customer approved processes and qualifications; established distribution networks; relatively low ongoing capital investment requirements; strong cash flow conversion and long-term growth opportunities. While the majority of our revenue is in the United States, we manufacture and supply products globally to a wide range of companies. We report our business activity in three segments: Packaging, Aerospace and Specialty Products.
  • Our businesses and results of operations depend upon general economic conditions. We serve customers in industries that are highly competitive, cyclical and that may be significantly impacted by changes in economic or geopolitical conditions.

Content analysis

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Positive
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Legalese
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Readability
H.S. senior Avg
New words: absorb, August, ease, freight, led, wage
Removed: ample, assigned, leveraging, line