TriMas (NASDAQ:TRS) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

TriMas (NASDAQ:TRS) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.10), Briefing.com reports. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The company had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $238.63 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Performance

TRS stock traded down $0.78 during midday trading on Wednesday, hitting $24.60. 14,829 shares of the company traded hands, compared to its average volume of 212,598. TriMas has a twelve month low of $22.59 and a twelve month high of $27.89. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. The business has a 50 day simple moving average of $26.15 and a 200-day simple moving average of $25.76. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 26.16 and a beta of 0.67.

TriMas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.16 annualized dividend and a yield of 0.65%. TriMas’s dividend payout ratio (DPR) is presently 16.49%.

Insider Buying and Selling at TriMas

In related news, Director Herbert K. Parker purchased 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 completion of the acquisition, the director now directly owns 33,057 shares in the company, valued at approximately $870,721.38. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Herbert K. Parker purchased 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 completion of the acquisition, the director now directly owns 33,057 shares in the company, valued at approximately $870,721.38. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Herbert K. Parker purchased 6,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were bought 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 of the company’s stock, valued at $1,343,894.39. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,681 shares of company stock worth $361,073 over the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and issued a $40.00 price target on shares of TriMas in a report on Wednesday, May 1st.

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.