TriMas (NASDAQ:TRS) Announces Quarterly Earnings Results

TriMas (NASDAQ:TRS) released its quarterly earnings data on Tuesday. The industrial products company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.10), Briefing.com reports. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The company had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $238.63 million. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Performance

Shares of TriMas stock traded down $0.31 on Thursday, hitting $24.27. The stock had a trading volume of 56,766 shares, compared to its average volume of 214,157. The stock has a market cap of $988.52 million, a price-to-earnings ratio of 25.34 and a beta of 0.67. TriMas has a 52-week low of $22.59 and a 52-week high of $27.89. The company’s 50 day moving average price is $26.10 and its 200 day moving average price is $25.75. The company has a current ratio of 2.73, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. TriMas’s dividend payout ratio is presently 16.49%.

Insider Transactions at TriMas

In related news, Director Herbert K. Parker purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average price of $26.27 per share, for a total transaction of $157,620.00. Following the transaction, the director now directly owns 51,157 shares of the company’s stock, valued at approximately $1,343,894.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Herbert K. Parker purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $26.27 per share, for a total transaction of $157,620.00. Following the acquisition, the director now directly owns 51,157 shares of the company’s stock, valued at approximately $1,343,894.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Mell sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $27.30, for a total value of $40,950.00. Following the completion of the sale, the chief financial officer now owns 31,923 shares in the company, valued at approximately $871,497.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 13,681 shares of company stock worth $361,073. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $40.00 price objective on shares of TriMas in a research note on Wednesday.

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.