TriMas (NASDAQ:TRS) Releases FY24 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.95-2.15 for the period, compared to the consensus earnings per share estimate of $2.00. TriMas also updated its FY 2024 guidance to 1.950-2.150 EPS.

TriMas Stock Performance

Shares of NASDAQ:TRS traded up $0.49 during mid-day trading on Thursday, reaching $26.28. The company had a trading volume of 46,803 shares, compared to its average volume of 241,472. TriMas has a one year low of $22.59 and a one year high of $29.07. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $25.57 and its 200-day moving average price is $25.09. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 26.59 and a beta of 0.71.

TriMas (NASDAQ:TRS) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. As a group, equities research analysts anticipate that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Monday, May 6th. TriMas’s payout ratio is 16.49%.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a buy rating and issued a $40.00 price target on shares of TriMas in a research note on Wednesday.

Insider Activity

In related news, CEO Thomas A. Amato purchased 10,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $23.62 per share, with a total value of $236,200.00. Following the transaction, the chief executive officer now owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% 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.