TriMas (NASDAQ:TRS) Issues FY24 Earnings Guidance

TriMas (NASDAQ:TRS) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.70-1.90 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of ~$929.3-947.2 million, compared to the consensus revenue estimate of $959.30 million. TriMas also updated its FY 2024 guidance to 1.700-1.900 EPS.

Analyst Upgrades and Downgrades

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

TriMas Trading Down 2.4 %

TriMas stock traded down $0.62 during mid-day trading on Wednesday, hitting $24.76. 156,900 shares of the stock were exchanged, compared to its average volume of 213,571. The company has a quick ratio of 1.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.63. TriMas has a 12 month low of $22.59 and a 12 month high of $27.89. The firm’s fifty day simple moving average is $26.15 and its two-hundred day simple moving average is $25.76. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 25.01 and a beta of 0.67.

TriMas (NASDAQ:TRS) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10). The firm had revenue of $240.50 million for the quarter, compared to the consensus estimate of $238.63 million. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. Analysts forecast that TriMas will post 2.03 EPS for the current year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. TriMas’s dividend payout ratio is currently 16.49%.

Insider Activity

In related news, Director Herbert K. Parker acquired 6,100 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $26.52 per share, for a total transaction of $161,772.00. Following the purchase, the director now directly owns 39,157 shares of the company’s stock, valued at approximately $1,038,443.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other TriMas news, Director Herbert K. Parker purchased 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $26.34 per share, for a total transaction of $39,510.00. Following the purchase, the director now owns 33,057 shares of the company’s stock, valued at approximately $870,721.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herbert K. Parker purchased 6,100 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $26.52 per share, with a total value of $161,772.00. Following the purchase, the director now directly owns 39,157 shares in the company, valued at approximately $1,038,443.64. The disclosure for this purchase can be found here. Insiders purchased 13,681 shares of company stock worth $361,073 in the last quarter. 1.10% of the stock is owned by corporate insiders.

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.