TriMas Co. (TRS) to Issue Quarterly Dividend of $0.04 on August 13th

TriMas Co. (NASDAQ:TRS) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Tuesday, August 6th will be paid a dividend of 0.04 per share by the industrial products company on Tuesday, August 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, August 6th.

TriMas has a payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Analysts expect TriMas to earn $2.19 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.3%.

TriMas Price Performance

Shares of NASDAQ:TRS opened at $23.76 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.82 and a debt-to-equity ratio of 0.63. The company has a market cap of $965.84 million, a P/E ratio of 24.49 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 has a 50-day moving average price of $25.98 and a 200 day moving average price of $25.75.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). The firm had revenue of $240.50 million during the quarter, compared to analyst estimates of $238.63 million. TriMas had a net margin of 4.44% and a return on equity of 9.61%. TriMas’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Research analysts predict that TriMas will post 1.8 earnings per share for the current year.

Insider Buying and Selling at TriMas

In related news, CFO Scott A. Mell sold 1,500 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $27.30, for a total value of $40,950.00. Following the sale, the chief financial officer now directly owns 31,923 shares in the company, valued at approximately $871,497.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Herbert K. Parker bought 6,000 shares of the stock in a transaction 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 acquisition, the director now owns 51,157 shares in the company, valued at $1,343,894.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Mell sold 1,500 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 31,923 shares of the company’s stock, valued at $871,497.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 12,181 shares of company stock valued at $321,563. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

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

TriMas Company Profile

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.