TriMas (NASDAQ:TRS) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

TriMas (NASDAQ:TRS) announced its earnings results on Monday. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14), Briefing.com reports. The business had revenue of $229.36 million for the quarter, compared to analysts’ expectations of $239.33 million. TriMas had a return on equity of 9.61% and a net margin of 4.44%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. TriMas updated its FY24 guidance to $1.70-1.90 EPS and its FY 2024 guidance to 1.700-1.900 EPS.

TriMas Stock Down 8.1 %

NASDAQ:TRS opened at $24.87 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 25.38 and a beta of 0.66. TriMas has a one year low of $22.45 and a one year high of $28.51. The stock has a 50-day simple moving average of $25.83 and a 200 day simple moving average of $25.82.

TriMas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 5th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.64%. TriMas’s dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and set a $40.00 price objective on shares of TriMas in a report on Wednesday, October 9th.

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.