U.S. markets closed
  • S&P 500

    +35.99 (+0.82%)
  • Dow 30

    +278.24 (+0.80%)
  • Nasdaq

    +80.23 (+0.55%)
  • Russell 2000

    +8.09 (+0.36%)
  • Crude Oil

    -0.15 (-0.21%)
  • Gold

    -1.00 (-0.06%)
  • Silver

    +0.03 (+0.13%)

    +0.0007 (+0.06%)
  • 10-Yr Bond

    +0.0020 (+0.17%)

    -0.0001 (-0.01%)

    -0.0500 (-0.05%)

    -979.52 (-2.49%)
  • CMC Crypto 200

    -15.09 (-1.60%)
  • FTSE 100

    +24.00 (+0.34%)
  • Nikkei 225

    -139.19 (-0.50%)

TriMas Aerospace Wins Airbus Deals, Boosts Fastener Solutions

·3 min read

TriMas Corporation’s TRS business unit — TriMas Aerospace — has secured multi-year contracts with Airbus of Toulouse, France. The contract is aimed at expanding the company’s fastener product sales activity in Europe.

The TriMas Aerospace segment designs and manufactures highly-engineered fasteners, temporary fasteners and standard fasteners to serve the global commercial and military aerospace industry under the Monogram Aerospace Fasteners, Allfast Fastening Systems and Mac Fasteners brands. TriMas Aerospace’s Monogram Aerospace Fasteners and Allfast Fastening Systems operations have been rewarded Airbus’s new supply contracts. 

The company recently entered into an agreement to acquire RSA Engineered Products. This buyout will enhance TriMas Aerospace’s product portfolio through the addition of air-ducting products, connectors, flexible joints, ozone converters and machined assemblies, for use in aerospace and defense applications primarily.

The company’s collaboration with Airbus supports its growth strategy to expand global customer in commercial and defense aerospace applications. Airbus is a significant fastener solutions customer to TriMas Aerospace and thus, the company expects to further team up with the former on fastener solutions.

TriMas will continue to focus on leveraging the TriMas Business Model, in order to improve management and performance of businesses. The company also has a solid pipeline of both product and process innovation that will sustain long-term growth and position its businesses to capitalize on market opportunities and minimize market disruptions.

Demand levels in many of TriMas’ end markets are being impacted by uncertainties related to the long-standing U.S-China trade tiff. This, along with the prevalent weakness in the North American industrial markets, will weigh on the Packaging segment’s top line. Moreover, higher freight and logistic costs will keep dragging down margins in the days ahead. However, the Aerospace segment is expected to fare better on strong quoting activity, order intake and new business wins.

The company’s results are bearing the brunt of higher commodity costs and increased tariffs on imported goods. Consequently, TriMas plans to counter these costs and tariff charges through commercial actions, supply-chain management, leveraging global manufacturing footprint and continued management of businesses under the TriMas Business Model.

TriMas Corporation Price and Consensus

TriMas Corporation Price and Consensus
TriMas Corporation Price and Consensus

TriMas Corporation price-consensus-chart | TriMas Corporation Quote

Zacks Rank and Stocks to Consider

TriMas currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Industrial Products sector are Northwest Pipe Company NWPX, Sharps Compliance Corp SMED and Graco Inc. GGG. All of these stocks sport a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today's Zacks #1 Rank stocks here.

Northwest Pipe has an expected earnings growth rate of 19.5% for the current year. The stock has appreciated 50% over the past year.

Sharps Compliance has an estimated earnings growth rate of a whopping 767% for the ongoing year. In a year’s time, the company’s shares have gained 43%.

Graco has a projected earnings growth rate of 4.3% for 2020. The company’s shares have rallied 20% over the past year.

Free: Zacks’ Single Best Stock Set to Double

Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.

See 5 Stocks Set to Double>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Graco Inc. (GGG) : Free Stock Analysis Report
Sharps Compliance Corp (SMED) : Free Stock Analysis Report
Northwest Pipe Company (NWPX) : Free Stock Analysis Report
TriMas Corporation (TRS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research