TriMas (NASDAQ:TRS) Issues FY 2024 Earnings Guidance

TriMas (NASDAQ:TRS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.950-2.150 for the period, compared to the consensus EPS estimate of 2.000. The company issued revenue guidance of $938.2 million-$965.0 million, compared to the consensus revenue estimate of $950.4 million. TriMas also updated its FY24 guidance to $1.95-2.15 EPS.

TriMas Price Performance

Shares of TRS stock traded up $0.48 during mid-day trading on Thursday, reaching $26.27. The stock had a trading volume of 105,896 shares, compared to its average volume of 242,021. The company has a market cap of $1.07 billion, a P/E ratio of 26.59 and a beta of 0.71. The company has a current ratio of 2.49, a quick ratio of 1.29 and a debt-to-equity ratio of 0.58. TriMas has a 12-month low of $22.59 and a 12-month high of $29.07. The business has a 50-day simple moving average of $25.57 and a 200 day simple moving average of $25.09.

TriMas (NASDAQ:TRS) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. TriMas had a return on equity of 9.68% and a net margin of 4.48%. The company had revenue of $227.10 million for the quarter, compared to the consensus estimate of $220.60 million. During the same period in the previous year, the business earned $0.30 EPS. TriMas’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that TriMas will post 1.91 earnings per share for the current year.

TriMas Announces Dividend

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

Analyst Ratings Changes

Separately, BWS Financial reissued a buy rating and set a $40.00 price target on shares of TriMas in a research report on Wednesday.

Insider Buying and Selling at TriMas

In other news, CEO Thomas A. Amato bought 10,000 shares of the stock in a transaction on 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 purchase, the chief executive officer now directly owns 286,168 shares of the company’s stock, valued at approximately $6,759,288.16. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

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.