Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

<ul>
<li>TRS continues to grow in its two smaller business segments while the packaging segment continues to experience a moderated recovery</li>
<li>Predominantly consumer staples. Inventory management has been the main culprit for the packaging segment not recovering as fast as expected</li>
<li>We believe the softness in packaging has created an investment opportunity in TRS’s stock as the Company streamlines its operations</li>
</ul>


TRS continues to grow in its two smaller business segments while the packaging segment continues to experience a moderated recovery
Predominantly consumer staples. Inventory management has been the main culprit for the packaging segment not recovering as fast as expected
We believe the softness in packaging has created an investment opportunity in TRS’s stock as the Company streamlines its operations


<ul>
<li>We are initiating coverage of TriMas Corp. (TRS) with a Buy Rating and $40 target.</li>
<li>TRS is an underfollowed industrial company with the ability to grow from multiple product lines with free cash flow that supports debt reduction and the purchase of tuck-in acquisitions</li>
<li>TRS’s largest segment is packaging, which has faced severe reduction in order volume over the past three quarters, but quoting activity is rising</li>
</ul>


We are initiating coverage of TriMas Corp. (TRS) with a Buy Rating and $40 target.
TRS is an underfollowed industrial company with the ability to grow from multiple product lines with free cash flow that supports debt reduction and the purchase of tuck-in acquisitions
TRS’s largest segment is packaging, which has faced severe reduction in order volume over the past three quarters, but quoting activity is rising


TRS: Package of Catalysts, Initiating with Buy

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>We take a look at actionable stocks within the U.S. manufacturing sector, a Vermilion Research overweight.  The following industry groups are represented: Aero/Defense, Auto Parts , Industrial Rental Equipment, Building Products &amp; Fixtures.</p><ul><li>List of highlighted charts: ALV, BDC, BLDR, CW, EMR, HDNG, HEES, HII, HURC, HXL, ITT, KAMN, LCII, LNN, MGRC, MLR, MOD, NNBR, NPO, PCAR, SPAR, SSD, SXI, TEX, TRN, TRS, TXT, URI, VICR, VMI, WSO, WTS</li></ul>

We take a look at actionable stocks within the U.S. manufacturing sector, a Vermilion Research overweight.  The following industry groups are represented: Aero/Defense, Auto Parts , Industrial Rental Equipment, Building Products &amp; Fixtures.List of highlighted charts: ALV, BDC, BLDR, CW, EMR, HDNG, HEES, HII, HURC, HXL, ITT, KAMN, LCII, LNN, MGRC, MLR, MOD, NNBR, NPO, PCAR, SPAR, SSD, SXI, TEX, TRN, TRS, TXT, URI, VICR, VMI, WSO, WTS

U.S. Manufacturing Sector Breaking Out to All-Time Relative Strength Highs; Actionable Stocks

United States

TriMas Corporation is a diversified manufacturer of proprietary products. The Company manufactures trailer products, recreational accessories, packaging systems, energy products and industrial specialty products for the commercial, manufacturing, and consumer markets.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Trimas Corp (TRS US)

TRS: Realigned for Delivery

We believe the sales delay is most likely by a quarter with TRS having improved clarity when it reports third quarter results. TRS's two other...

BWS Financial Inc

TRS: Package of Catalysts, Initiating with Buy

TRS experienced a slowdown in its largest business segment, packaging, three quarters ago and is now starting to see an increase in quoting activity.

BWS Financial Inc

U.S. Manufacturing Sector Breaking Out to All-Time Relative Strength Highs; Actionable Stocks

We take a look at actionable stocks within the U.S. manufacturing sector, a Vermilion Research overweight. The following industry groups are...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)