TriMas Co. to Issue Quarterly Dividend of $0.04 (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) announced a quarterly dividend on Monday, October 21st, RTT News reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.04 per share by the industrial products company on Tuesday, November 12th. This represents a $0.16 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, November 5th.

TriMas has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TriMas to earn $1.96 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 8.2%.

TriMas Price Performance

TRS opened at $27.06 on Friday. The stock has a 50-day moving average price of $25.83 and a 200-day moving average price of $25.82. The stock has a market capitalization of $1.10 billion, a P/E ratio of 27.61 and a beta of 0.66. TriMas has a 12-month low of $22.45 and a 12-month high of $28.51. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $40.00 price target on shares of TriMas in a research note on Wednesday, October 9th.

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.