Q3 2024 Earnings Forecast for TriMas Co. (NASDAQ:TRS) Issued By BWS Financial

TriMas Co. (NASDAQ:TRS) – Investment analysts at BWS Financial cut their Q3 2024 EPS estimates for TriMas in a report issued on Wednesday, May 1st. BWS Financial analyst H. Khorsand now anticipates that the industrial products company will earn $0.63 per share for the quarter, down from their previous estimate of $0.64. BWS Financial currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for TriMas’ current full-year earnings is $1.91 per share.

TriMas (NASDAQ:TRS) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $227.10 million during the quarter, compared to analyst estimates of $220.60 million. TriMas had a net margin of 4.48% and a return on equity of 9.68%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share.

TriMas Price Performance

TRS stock opened at $26.21 on Friday. TriMas has a 1 year low of $22.59 and a 1 year high of $29.07. The company has a market cap of $1.07 billion, a P/E ratio of 27.02 and a beta of 0.71. The firm has a 50-day moving average of $25.59 and a 200 day moving average of $25.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.73 and a quick ratio of 1.29.

Institutional Trading of TriMas

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in TriMas by 79.8% in the 1st quarter. BNP Paribas Financial Markets now owns 20,225 shares of the industrial products company’s stock valued at $541,000 after acquiring an additional 8,978 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in TriMas by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,095,572 shares of the industrial products company’s stock valued at $82,745,000 after buying an additional 25,795 shares during the period. Diversified Trust Co boosted its position in TriMas by 32.7% in the 1st quarter. Diversified Trust Co now owns 21,647 shares of the industrial products company’s stock valued at $579,000 after buying an additional 5,333 shares during the period. Quadrature Capital Ltd purchased a new stake in TriMas in the 4th quarter valued at about $1,102,000. Finally, Vanguard Group Inc. boosted its position in TriMas by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,258,456 shares of the industrial products company’s stock valued at $107,867,000 after buying an additional 43,423 shares during the period. 99.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Thomas A. Amato purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 286,168 shares in the company, valued at approximately $6,759,288.16. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Thomas A. Amato bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the acquisition, the chief executive officer now owns 286,168 shares of the company’s stock, valued at approximately $6,759,288.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert K. Parker bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $26.34 per share, for a total transaction of $39,510.00. Following the acquisition, the director now directly owns 33,057 shares of the company’s stock, valued at approximately $870,721.38. The disclosure for this purchase can be found here. Insiders have bought a total of 13,500 shares of company stock worth $325,550 over the last 90 days. 1.10% of the stock is currently owned by insiders.

TriMas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, May 6th. TriMas’s payout ratio is 16.49%.

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.