TriMas (NASDAQ:TRS) Issues 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.

Analyst Upgrades and Downgrades

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

TriMas Stock Down 0.0 %

TRS traded down $0.01 on Friday, hitting $26.21. 220,371 shares of the company were exchanged, compared to its average volume of 243,264. TriMas has a twelve month low of $22.59 and a twelve month high of $29.07. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 27.02 and a beta of 0.71. The company has a current ratio of 2.73, a quick ratio of 1.29 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $25.59 and a two-hundred day moving average price of $25.11.

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 company had revenue of $227.10 million for the quarter, compared to analyst estimates of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, equities analysts predict that TriMas will post 1.91 earnings per share for the current year.

TriMas Announces Dividend

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

Insider Transactions at TriMas

In other news, CEO Thomas A. Amato bought 10,000 shares of the stock in a transaction on Friday, March 1st. The shares were bought at an average price of $23.62 per share, with a total value of $236,200.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas A. Amato bought 10,000 shares of TriMas stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $23.62 per share, with a total value of $236,200.00. Following the purchase, the chief executive officer now owns 286,168 shares in the company, valued at $6,759,288.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert K. Parker bought 1,500 shares of the stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $26.34 per share, for a total transaction of $39,510.00. Following the acquisition, the director now owns 33,057 shares in the company, valued at approximately $870,721.38. The disclosure for this purchase can be found here. In the last three months, insiders acquired 13,500 shares of company stock valued at $325,550. Corporate insiders own 1.10% of the company’s stock.

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.