TriMas (NASDAQ:TRS) Issues FY24 Earnings Guidance

TriMas (NASDAQ:TRS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.95-2.15 for the period, compared to the consensus estimate of $2.00.

TriMas Stock Up 1.0 %

TRS opened at $26.75 on Tuesday. TriMas has a 1 year low of $22.59 and a 1 year high of $29.07. The company has a market cap of $1.09 billion, a PE ratio of 27.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49. The firm has a 50 day moving average price of $25.56 and a 200 day moving average price of $25.07.

TriMas (NASDAQ:TRS) last released its quarterly earnings data on Thursday, February 29th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $209.60 million for the quarter, compared to analyst estimates of $246.44 million. TriMas had a return on equity of 8.85% and a net margin of 4.52%. TriMas’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Sell-side analysts expect that TriMas will post 1.91 earnings per share for the current year.

TriMas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. TriMas’s dividend payout ratio is presently 16.49%.

Insider Activity

In other news, CEO Thomas A. Amato bought 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $23.62 per share, with a total value of $236,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 286,168 shares in the company, valued at $6,759,288.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

About TriMas

TriMas Corporation engages in the design, development, manufacture, and sale of products for consumer products, aerospace, and industrial markets worldwide. The company operates through Packaging, Aerospace, and Specialty Products segments. The Packaging segment offers dispensing products, such as foaming and sanitizer pumps, lotion and hand soap pumps, beverage dispensers, perfume sprayers, and nasal and trigger sprayers; polymeric and steel caps and closures comprising food lids, flip-top and beverage closures, child resistance caps, drum and pail closures, and flexible spouts; polymeric jar products; integrated dispensers; bag-in-box products; and consumable vascular delivery and diagnostic test components under the Rieke, Taplast, Affaba & Ferrari, Intertech, Omega, and Rapak brands.