TriMas (NASDAQ:TRS) Updates FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.950-2.150 for the period, compared to the consensus earnings per share estimate of 2.000. The company issued revenue guidance of $938.2 million-$965.0 million, compared to the consensus revenue estimate of $950.4 million. TriMas also updated its FY24 guidance to $1.95-2.15 EPS.

Wall Street Analysts Forecast Growth

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

TriMas Stock Down 0.2 %

Shares of NASDAQ TRS traded down $0.06 during trading hours on Wednesday, hitting $25.93. The stock had a trading volume of 232,490 shares, compared to its average volume of 241,850. The company has a market capitalization of $1.06 billion, a P/E ratio of 26.59 and a beta of 0.71. The firm’s 50-day moving average price is $25.57 and its two-hundred day moving average price is $25.08. TriMas has a 52 week low of $22.59 and a 52 week high of $29.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 2.49.

TriMas (NASDAQ:TRS) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $227.10 million during the quarter, compared to analysts’ expectations of $220.60 million. TriMas had a return on equity of 8.85% and a net margin of 4.52%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. Analysts anticipate that TriMas will post 1.91 EPS for the current fiscal year.

TriMas Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. TriMas’s payout ratio is currently 16.49%.

Insiders Place Their Bets

In other TriMas news, CEO Thomas A. Amato purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $23.62 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.