TriMas Co. (NASDAQ:TRS) Forecasted to Earn FY2024 Earnings of $1.72 Per Share

TriMas Co. (NASDAQ:TRS) – BWS Financial dropped their FY2024 EPS estimates for TriMas in a report released on Wednesday, July 31st. BWS Financial analyst H. Khorsand now anticipates that the industrial products company will post earnings per share of $1.72 for the year, down from their prior forecast of $2.03. BWS Financial currently has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for TriMas’ current full-year earnings is $1.72 per share.

TriMas (NASDAQ:TRS) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (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 business had revenue of $240.50 million during the quarter, compared to the consensus estimate of $238.63 million. During the same period in the previous year, the business posted $0.50 earnings per share. TriMas’s revenue was up 3.1% compared to the same quarter last year.

TriMas Price Performance

Shares of TRS stock opened at $23.19 on Monday. The firm’s 50 day moving average price is $25.90 and its two-hundred day moving average price is $25.75. The stock has a market cap of $944.60 million, a PE ratio of 23.91 and a beta of 0.67. TriMas has a 52-week low of $22.45 and a 52-week high of $27.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.82.

TriMas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.69%. TriMas’s dividend payout ratio is 16.49%.

Insider Transactions at TriMas

In other news, CFO Scott A. Mell sold 1,500 shares of TriMas stock in a transaction on 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 of the company’s stock, valued at $871,497.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On TriMas

Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its stake in TriMas by 5.7% in the 1st quarter. Quantbot Technologies LP now owns 8,933 shares of the industrial products company’s stock valued at $239,000 after buying an additional 478 shares during the last quarter. Summit Trail Advisors LLC grew its stake in TriMas by 5.0% in the 4th quarter. Summit Trail Advisors LLC now owns 15,158 shares of the industrial products company’s stock valued at $384,000 after buying an additional 716 shares during the last quarter. Rhumbline Advisers grew its stake in TriMas by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 69,328 shares of the industrial products company’s stock valued at $1,772,000 after buying an additional 985 shares during the last quarter. Innealta Capital LLC acquired a new position in TriMas in the 2nd quarter valued at about $26,000. Finally, Diversified Trust Co grew its stake in TriMas by 5.0% in the 2nd quarter. Diversified Trust Co now owns 22,719 shares of the industrial products company’s stock valued at $581,000 after buying an additional 1,072 shares during the last quarter. 99.42% of the stock is owned by institutional investors.

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.