Zacks Research Analysts Boost Earnings Estimates for TriMas Co. (NASDAQ:TRS)

TriMas Co. (NASDAQ:TRS) – Zacks Research boosted their Q3 2024 EPS estimates for shares of TriMas in a report released on Tuesday, April 23rd. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of $0.59 per share for the quarter, up from their prior forecast of $0.58. The consensus estimate for TriMas’ current full-year earnings is $1.91 per share.

TriMas (NASDAQ:TRS) last posted its earnings results on Thursday, February 29th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The firm had revenue of $209.60 million for the quarter, compared to analyst estimates of $246.44 million. TriMas had a net margin of 4.52% and a return on equity of 8.85%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share.

TriMas Trading Down 1.3 %

TriMas stock opened at $25.93 on Thursday. TriMas has a 52-week low of $22.59 and a 52-week high of $29.07. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 26.73 and a beta of 0.71. The firm has a 50-day moving average price of $25.50 and a two-hundred day moving average price of $25.03. The company has a quick ratio of 1.29, a current ratio of 2.49 and a debt-to-equity ratio of 0.58.

Institutional Trading of TriMas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its holdings in shares of TriMas by 30.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,581 shares of the industrial products company’s stock worth $1,079,000 after purchasing an additional 10,098 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of TriMas by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,025 shares of the industrial products company’s stock worth $12,802,000 after purchasing an additional 21,767 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of TriMas by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,215,033 shares of the industrial products company’s stock worth $104,364,000 after purchasing an additional 34,517 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of TriMas by 16.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,069,777 shares of the industrial products company’s stock valued at $77,757,000 after acquiring an additional 422,717 shares during the period. Finally, Redmond Asset Management LLC raised its holdings in shares of TriMas by 157.8% during the third quarter. Redmond Asset Management LLC now owns 67,042 shares of the industrial products company’s stock valued at $1,660,000 after acquiring an additional 41,036 shares during the period. 99.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Thomas A. Amato purchased 10,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the transaction, the chief executive officer now owns 286,168 shares of the company’s stock, valued at $6,759,288.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

TriMas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, May 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. TriMas’s dividend payout ratio (DPR) is 16.49%.

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.