TriMas Corporation TRS will continue to gain on the back of ongoing strength in demand in the Packaging segment and recovery in end markets in the Specialty Products segment. The company will benefit from its realignment actions and cost reduction efforts. The TriMas Business Model, which is designed to improve management and performance of its businesses, is commendable. Its strong pipeline of both product and process innovation, and acquisitions will drive growth.Positive Momentum in Segments Bodes WellTriMas’ Packaging segment, which accounts for around 63% of its sales, manufactures dispensers and closures that are used in applications to help fight the spread of germs, improve personal hygiene, and for home and industrial cleaning and food and beverage, pharmaceutical applications. The segment has thus been witnessing improved sales amid the coronavirus pandemic. Even when the situation stabilizes, demand for the segment’s dispensing pumps and closure products used in personal care and home care applications will sustain, supported by increased awareness regarding hygiene worldwide. To meet the escalating demand, TriMas recently announced that it is constructing a new highly automated 230,000 square foot facility in New Albany, OH, which is expected to commence operations in second-quarter 2022.The Specialty Products segment has been witnessing growth in sales recently on the back of higher demand for cylinders, and engines and compressors used in construction, heating, ventilation and air conditioning (HVAC) and upstream oil and gas applications. Activity in the manufacturing sector has picked up after the COVID-19 induced slowdown, which bodes well for TriMas given that industrial markets generate around 28% of its sales.Acquisitions to Aid GrowthTriMas’ strategy is to accelerate growth through acquisitions, particularly in its Packaging and Aerospace platforms, backed by their growth prospects. In line with this, TriMas completed three acquisitions in 2020 — RSA Engineered Products, Affaba & Ferrari and Rapak. TriMas has a robust pipeline of potential M&A in the Packaging and Aerospace segments.The company’s strong balance sheet and track record of strong cash flow generation provides both ample capacity and flexibility to fund its capital allocation priorities, while returning capital to shareholders through share purchase. Its total debt to total capital ratio was 0.40 as of Jun 30, 2021, much lower than the industry’s total debt to total capital ratio of 0.62. The company ended second-quarter 2021 with $410.3 million of unrestricted cash and aggregate availability under its revolving credit facilities.Innovation a Key CatalystTriMas has a strong pipeline of both product and process innovation that will sustain long-term growth. The Packaging segment recently commercialized a single-polymer dispensing pump, which is ready for advanced design applications for customers serving the beauty, personal care and other end markets. It is the first pump in the market made from a single polymer grade resin, which makes the pump more easily recyclable at end of use. The company is working toward introducing a full range of single polymer dispensing pumps under the Singolo brand name.Other Growth DriversSince second-quarter 2020, the company has been executing certain realignment actions amid the COVID-19 pandemic. In second-quarter 2021, TriMas continued its facility consolidation initiatives within the Packaging and Aerospace segments and reorganized its corporate office legal and finance groups. These efforts will lead to cost savings. Meanwhile, the company continues to focus on leveraging the TriMas Business Model, which was implemented in late 2016 to improve management and performance of its businesses. Its innovative solutions through product, process or service, and extensive resources will help enhance business performance.Share Price Performance Image Source: Zacks Investment ResearchShares of TriMas have gained 27% over the past year, compared with the industry’s rally of 38.6%.Zacks Rank & Other Stocks to ConsiderTriMas carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some other top-ranked stocks in the Industrial Products sector include Encore Wire Corporation WIRE, Lincoln Electric Holdings, Inc. LECO and Lindsay Corporation LNN. While Encore Wire and Lincoln Electric sport a Zacks Rank #1, Lindsay carries a Zacks Rank #2, at present.Encore Wire has a projected earnings growth rate of 332.6% for fiscal 2021. In a year’s time, the company’s shares have gained 68%.Lincoln Electric has an expected earnings growth rate of 45.1% for 2021. The stock has appreciated 45% over the past year.Lindsay has an estimated earnings growth rate of 17.4% for fiscal 2021. The company’s shares have gained 67.5% in a year. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>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 TriMas Corporation (TRS): Free Stock Analysis Report Lindsay Corporation (LNN): Free Stock Analysis Report Lincoln Electric Holdings, Inc. (LECO): Free Stock Analysis Report Encore Wire Corporation (WIRE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research