TriMas Co. to Issue Quarterly Dividend of $0.04 (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 6th will be given a dividend of 0.04 per share by the industrial products company on Tuesday, August 13th. This represents a $0.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, August 6th.

TriMas has a payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Analysts expect TriMas to earn $2.19 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.3%.

TriMas Trading Down 2.2 %

NASDAQ TRS opened at $23.76 on Monday. TriMas has a 12 month low of $22.59 and a 12 month high of $27.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.82 and a quick ratio of 1.41. The company has a market capitalization of $965.84 million, a price-to-earnings ratio of 24.49 and a beta of 0.67. The company’s fifty day moving average price is $25.98 and its two-hundred day moving average price is $25.76.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.10). TriMas had a net margin of 4.44% and a return on equity of 9.61%. The company had revenue of $240.50 million for the quarter, compared to the consensus estimate of $238.63 million. During the same quarter last year, the company earned $0.50 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict that TriMas will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Herbert K. Parker acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $26.27 per share, with a total value of $157,620.00. Following the acquisition, the director now directly owns 51,157 shares in the company, valued at $1,343,894.39. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Herbert K. Parker acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $26.27 per share, with a total value of $157,620.00. Following the acquisition, the director now directly owns 51,157 shares in the company, valued at $1,343,894.39. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Mell sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $27.30, for a total transaction of $40,950.00. Following the transaction, the chief financial officer now directly owns 31,923 shares in the company, valued at approximately $871,497.90. The disclosure for this sale can be found here. Corporate 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 research report on Wednesday, July 31st.

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.