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

TriMas Co. (NASDAQ:TRS) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.04 per share by the industrial products company on Tuesday, November 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Tuesday, November 5th.

TriMas has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TriMas to earn $1.96 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 8.2%.

TriMas Stock Down 0.5 %

TriMas stock opened at $27.38 on Thursday. The firm has a 50 day moving average price of $25.40 and a two-hundred day moving average price of $25.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.82. TriMas has a 52-week low of $22.45 and a 52-week high of $28.51. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 27.94 and a beta of 0.67.

TriMas (NASDAQ:TRS) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.10). TriMas had a net margin of 4.44% and a return on equity of 9.61%. The firm had revenue of $240.50 million during the quarter, compared to analyst estimates of $238.63 million. During the same quarter in the previous year, the firm earned $0.50 EPS. TriMas’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts predict that TriMas will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and set a $40.00 price target 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.