TriMas Corporation (TRS): A Bull Case Theory

We came across a bullish thesis on TriMas Corporation (TRS) on Acid Investments’ Substack. In this article, we will summarize the bulls’ thesis on TRS. TriMas Corporation (TRS)’s share was trading at $26.62 as of 29^th May. TRS’s trailing and forward P/E were 34.57 and 14.71, respectively, according to Yahoo Finance.

TriMas Corporation (TRS) presents a compelling event-driven opportunity as the company undergoes a strategic transformation catalyzed by activist pressure, executive transition, and the hiring of financial advisors.

Activist investor Barington Capital, which owns approximately 1.5% of the company, is advocating for a breakup or sale of the business to unlock shareholder value. This push coincides with CEO Thomas Amato’s planned departure by the end of 2025 and the company’s engagement of Bank of America and PJT Partners to evaluate strategic alternatives, including potential divestitures or a full sale.

TriMas consists of three distinct segments: Packaging, Aerospace, and Specialty Products. The Packaging segment is a high-margin, IP-rich business with global exposure and strong sustainability tailwinds, likely to command a premium multiple in line with peers like Aptar, which trade around 13x EBITDA. The Aerospace segment, including Monogram and recent acquisition Weldmac, benefits from long-term backlogs and rising defense budgets, with comparable M&A transactions suggesting a 12x+ EBITDA valuation. Specialty Products, historically a drag on performance, is being strategically exited, as evidenced by the sale of Arrow Engine.

A conservative sum-of-the-parts valuation suggests a value of $33 to $38 per share, offering 25–40% upside from current levels, while a full company sale, as seen in comparable deals like Barnes Group, could yield a takeout price in the mid-$30s. Insider buying and Barington’s activism lend credibility to the likelihood of a transaction. Risks include near-term EPS guide misses and execution uncertainty, but the strategic direction is clearly oriented toward unlocking shareholder value.

For a comprehensive analysis of another standout stock covered by the same author, we recommend reading our summary on their bullish thesis on Amentum Holdings, Inc. (AMTM).

TriMas Corporation (TRS) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held TRS at the end of the first quarter which was 13 in the previous quarter. While we acknowledge the potential of TRS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.